South Africa has proposed a new law banning foreigners directly buying agricultural land in the country as the government seeks to boost ownership for the black majority. Non-residents will be allowed to take long leases on the properties or the land should be majority owned by a black South African, according to the Regulation of Agricultural Land Holdings Bill, published in the Government Gazette on Friday. The proposal is open for public comment until April 17. The ruling African National Congress is seeking to accelerate the transfer of land to the black majority to help reduce inequality and reverse the legacy of white-minority rule. President Jacob Zuma has also vowed to step up wealth distribution, promising “radical economic transformation” in his final year as leader of the party. While Zuma has suggested changing the constitution to allow the state to expropriate land without paying for it, an ANC policy document calls for fair compensation. Foreigners considering selling ...

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