EXCLUSIVE: 'This is no land grab', writes Cyril Ramaphosa
In this article, published in London's Financial Times, President Cyril Ramaphosa explains how land expropriation without compensation will work
It is nearly 25 years since SA became a democracy, yet the promise of that historic achievement has not yet been fully realised by the millions of people who are unemployed and live in poverty. Despite significant progress, many of the economic disparities of the apartheid era persist. After a decade of slow growth, the South African government has embarked on a big investment drive to stimulate economic growth and create new jobs. It has begun to tackle the obstacles to growth by working towards greater policy certainty, shifting resources towards infrastructure investment, reducing bureaucratic inefficiency and stabilising public finances.
Among the greatest obstacles to growth is the severe inequality between black and white South Africans. For the South African economy to reach its full potential, it is therefore necessary to significantly narrow gaps in income, skills, assets and opportunities. One of the areas where this disparity is most devastating is in the ownership ...