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President Cyril Ramaphosa, who sent markets into a tailspin in July with his announcement on expropriation of land without compensation, has just sold R20m worth of animals from his expansive game and cattle operations. The announcement has pushed down the rand and damaged investor sentiment. An auction near Bela Bela by a group of six farms known collectively as Stud Game Breeders raised about R99m on Saturday through the sale of animals including Cape buffaloes and kudu antelope. Ramaphosa’s Phala Phala Wildlife farm is part of the group and sold animals for a total of R19.7m. The night before the auction, Ramaphosa addressed 400 of the world’s biggest game buyers. Attendees, some of whom arrived in private jets and helicopters, are among the country’s biggest landholders. He told them that while the ANC embraces calls to change the constitution to allow the state to expropriate land without paying for it, the government would implement its land policy responsibly, people who were...

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