No danger for SA economy? Ramaphosa says investors support land expropriation

No danger for SA economy? Ramaphosa says investors support land expropriation

- President Cyril Ramaphosa has revealed that all the foreign investors he has courted since taking office understand and support land expropriation without compensation

- He said investors took a long-term view when making decisions and valued stability and policy certainty above all else

- Ramaphosa has on various occasions claimed land expropriation could actually benefit the economy rather than do damage

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President Cyril Ramaphosa says foreign investors not only understand, but also support the proposed land expropriation without compensation policy. Ramaphosa said all of the foreign investors he had courted since taking office understood the need to resolve the land issue in South Africa.

Ramaphosa has been on a drive to secure foreign investments for the country, his stated aim is to secure at least R100 billion of direct investment over the next five years.

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The president said investors took a long-term view when making decisions and valued stability and policy certainty above all else. Ramaphosa said investors also wanted assurances from governments and regulatory bodies.

Briefly.co.za gathered that Ramaphosa repeated his previous sentiment that land expropriation could benefit rather than harm the South African economy.

Ramaphosa said this could be achieved by turning vast tracts of land which currently lie dormant into productive farms, which would provide employment and food security.

Ramaphosa recently concluded a successful visit to the UK where he secured a high-profile investment deal with the UK government. He has also made successful visits to the World Economic Forum.

Critics of the land expropriation policy often point to fears about it collapsing the economy and destroying food security, this has led Ramaphosa to try and allay fears.

Ramaphosa and his administration have repeatedly said the government would operate within the bounds of the Constitution when enacting land expropriation.

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Source: Briefly.co.za

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