FARMING
State allots R4.2bn to buy strategic land
Accelerating land reform has become urgent and the government has set aside R4.2bn for the acquisition of about 291,000ha of strategically located land, Finance Minister Malusi Gigaba said in his budget speech. Land reform has dominated political debate in recent months amid talk of expropriation without compensation, which the government is pushing to implement. There are fears that such a policy will spook investors. The Constitution will need to be amended for the policy to come into effect. The EFF, which has long called for expropriation without compensation and for its supporters to occupy land, previously offered the ANC its 6% representation in Parliament, which would give it the required two-thirds majority threshold to amend section 25 of the Constitution, or the property clause. President Cyril Ramaphosa has said that expropriation without compensation would be handled in a responsible manner to ensure that the economy and food security are not adversely affected. Gigaba ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.