Land expropriation will be handled ‘responsibly’, Nhlanhla Nene reassures investors
London — Land expropriation without compensation would be dealt with in a "responsible manner" that addressed social challenges without affecting the economy negatively, Finance Minister Nhlanhla Nene said. The government would have concrete proposals for land reform "on the table" by August, Nene told reporters in London, after a series of meetings with investors. The issue "has the potential to be abused" for political purposes, he said. A parliamentary committee is looking at amending the Constitution to allow land seizures without compensation, a change the DA says would deter investment and curb agricultural production. The ANC, backed by the EFF, argues that existing mechanisms to address inequalities in land ownership are inadequate. The ANC decided at its December conference, where it elected Cyril Ramaphosa as leader, to pursue expropriation without compensation and also to change legislation to make the Reserve Bank state owned instead of being in private hands. This is no...
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