Trevor Manuel: land issue makes SA a tough sell for Ramaphosa's investment envoys

Trevor Manuel, the former finance minister and one of four investment envoys appointed by President Cyril Ramaphosa to sell SA to investors, said on Wednesday that explaining SA’s ongoing land debate had been tougher than expected. In February, the ANC partnered with the EFF in Parliament to vote through a motion to expropriate land without compensation, causing the rand to weaken and intensifying investor fear. Ramaphosa has given the envoys — Manuel; former Standard Bank CEO Jacko Maree; businesswoman Phumzile Langeni; and former deputy minister of finance Mcebisi Jonas — and his economic adviser, Trudi Makhaya, a target of $100bn in investments over the next five years. Radical move on land But many within his target market were concerned that the radical move on land could harm property rights, the financial sector and food security. Parliament’s review committee is crisscrossing the country holding public hearings on whether section 25 of the Constitution – which deals with pro...