LETTER: Expropriation Bill does nothing to allay fears of investors
The service of a notice of expropriation should be stayed until any court process is resolved
Foreign direct investment (FDI) in SA is running at only $2.5bn per annum, far below the hoped for level of $20bn. This trend predates Covid-19. The main reason for this reluctance on the part of foreigners to invest is policy uncertainty and fear of inequitable expropriation. The Expropriation Bill does nothing to allay these fears. It should be amended.
As this bill ostensibly deals essentially with land, its ambit should be restricted to land and consequential improvements. I realise that section 25 of the constitution does not limit the definition of property to land, but it is not clear that this is intended to extend the concept to private homes, shares, intellectual property, pensions and so on...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.