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Wednesday, January 20th, 2021

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

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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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