LETTER: Banks must explain implications of land expropriation
The Institute of Race Relations (IRR) is launching an open-letter campaign this week asking prominent SA banks to clarify for their clients the implications of expropriation without compensation (EWC) becoming government policy.
The central issue on which the IRR will be engaging (https://www.businesslive.co.za/bd/national/2019-12-05-irr-to-challenge-expropriation-without-compensation-process-in-court/) banks is the question of bond payments. South Africans are already under huge financial and economic pressure. Would banks expect them to pay off bonds on properties that have been expropriated without compensation by the state? South Africans deserve a straight answer to this simple and important question...
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