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Thursday, January 28th, 2021

Chilling facts about land expropriation without compensation laws that President Ramaphosa has promised to push in 2021

by January 13, 2021 Financial News

President Cyril Ramaphosa told the ANC at the start of the year that passing legislation to allow for land expropriation without compensation is a priority for the ruling party this year. It is move that would most likely deal a devastating blow to the already troubled SA economy because it will deter investment. Dr Anthea Jeffery, a legal expert with the IRR thinktank, unpacks the details of the proposed laws that will allow for the state to seize many of your assets, including your home – regardless of your skin colour. Disadvantaged people won’t receive property equity; instead a system in which property is leased from the state is proposed. She says it is possible this socialist legislation will be passed, because the ANC can secure a two-thirds majority with the Economic Freedom Fighters – a radical group that supports Venezuela-style economics. In this interview with BizNews’ Jackie Cameron, Dr Jeffery sets out what’s next as the EWC policy gains momentum. It’s a mistake to think President Ramaphosa is a pro-business ‘reformer, she says. The IRR is taking steps to fight this legislation that will ‘bring Zimbabwe to South Africa’ and increase unemployment, hunger and suffering, as a deadline looms in February. …

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Author: BizNews The Daily Insider

This article was originally posted on BizNews.

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