AfriBusiness: Do 7.5 million black homeowners know expropriation means they won't own their homes anymore?

AfriBusiness: Do 7.5 million black homeowners know expropriation means they won't own their homes anymore?

- AfriBusiness has indicated that they will continue to fight land expropriation without compensation

- They say the motion to amend the Constitution is a threat to everyone, including black homeowners

- The motion threatens the economy of the country as well with investors watching carefully to see what will happen

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Chairperson of the De Klerk Foundation, Dave Steward, has indicated that the motion to proceed with land expropriation without compensation posed a "fatal threat" to the great constitutional accord that South Africans reached between 1990 and 1994.

"This is not just a threat to white farmers, a threat to property rights, it affects every single person in South Africa. It is a threat to the 7.5 million black South Africans who own their own homes," Steward said.

"People will not invest in a country that does not protect their investment. We are not panicking, but we are deeply concerned," he added.

AfriBusiness said it would continue to oppose the expropriation of land without compensation, learned.

READ ALSO: Gordhan's plans to recapture the state sure to anger the corrupt

"It is not in the public interest and it is something that we will oppose," AfriBusiness CEO Piet le Roux said following a summit with various organisations.

The Summit was held under the Chatham House Rules, which require that information shared at the summit may be used, but not attributed to any speaker or the organisation with which the speaker is affiliated.

The summit was attended by representatives from AfriForum, AgriSA, the FW de Klerk Foundation, the Helen Suzman Foundation, the Solidarity Movement, the South African Institute of Race Relations, TLU SA, and the Free Market Foundation.

The AfriBusiness summit follows the motion to amend the Constitution which was passed by the National Assembly.

The motion, brought by EFF leader Julius Malema and amended by the ANC, was adopted with a vote of 241 in support and 83 against.

The DA, the FF Plus, Cope and the ACDP opposed the motion.

Le Roux said it was clear that all the organisations that attended the summit agreed that the motion must be opposed.

"It is crucial that civil society take urgent steps to protect property rights," he said.

READ ALSO: Letter: Opposition parties; stop squabbling and prove yourselves to South Africa

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