In his article, Stimulus plan commits to inclusive growth and reversal of stagnation (September 25), President Cyril Ramaphosa makes no mention of expropriation without compensation. This is odd, as changing the constitution to dilute property rights protections has been the policy centrepiece of his presidency. He has stated that the policy would deliver everything from a Garden of Eden to the solution to bridging the gap between rich and poor. Perhaps presidency staffers are beginning to realise that squaring the circle on policy certainty and expropriation is impossible. Perhaps hard reality is beginning to bite. In large part because of this uncertainty, the economy is in recession, joblessness is up, most confidence measures are diving and our latest polls put ANC voter support at just 52%. If we are starting to see the beginning of a reality-induced climb-down, then that is largely thanks to various civil society lobbies that have done such a good job of putting pressure on th...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now