The thought of land expropriation without compensation is keeping many South Africans awake at night. Myriad experts have warned against the dangers of land expropriation, with the fear of international disinvestment being a possibility. Not only will it discourage much needed investment into South Africa and stall the economy, but it has many South Africans worried about what will happen to their homes and other assets. In an earlier interview with BizNews, financial expert Dawn Ridler explained why going forward with this will severely effect the economy. “Land or property ownership – or the rights attached to property ownership – is very valued, in capitalist societies particularly. I just worry that we’re shooting ourselves in the foot.” Below, Anthea Jeffery outlines the real purpose behind EWC and the Expropriation Bill. – Jarryd Neves
The real purpose of the EWC and Expropriation Bills - Biznews
15 April 2021 - Last week the Ad Hoc Committee responsible for drafting an expropriation-without- compensation (EWC) constitutional amendment bill (the EWC Bill) invited three ministers, including minister of mineral resources and energy Gwede Mantashe, to put forward their comments on its draft to date.
The thought of land expropriation without compensation is keeping many South Africans awake at night. Myriad experts have warned against the dangers of land expropriation, with the fear of international disinvestment being a possibility. Not only will it discourage much needed investment into South Africa and stall the economy, but it has many South Africans worried about what will happen to their homes and other assets. In an earlier interview with BizNews, financial expert Dawn Ridler explained why going forward with this will severely effect the economy. “Land or property ownership – or the rights attached to pro
For a country desperate for higher rates of investment to ignite sustainable economic growth, the Expropriation Bill, and the headlines that have accompanied its passage through parliament’s consultation processes, could not have been more poorly timed. Coverage of the bill has cast it as the legalisation of what is presumed soon to become a vast wave of theft and looting as officials across the land use their powers of expropriation to denude property owners of all kinds of assets, not just land.