Julius Malema, the enfant terrible of South African politics, feels he’s got President Cyril Ramaphosa just where he wants him. Since his expulsion from the ANC five years ago, Malema and the EFF have targeted setting the national agenda before next year’s elections. The party, which has been key in pushing the ANC into a forceful stance in support of expropriation of land without compensation and free university education, is now demanding the ANC fulfil a pledge it made eight months ago to nationalise the central bank. The prospect of property rights being eroded — after Ramaphosa announced plans last month to amend the constitution to allow the state to take land without paying for it — has spooked investors, whom the president is trying to persuade to pour $100bn into the country to spur growth. "The EFF is in charge — the ANC is following us," Malema, whose 25 MPs dressed in red workers’ outfits regularly spark uproars in parliament, said in an interview. "Through their land an...

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