South Africa: senior ANC officials signal expropriation
- June 15, 2018
- - 7:32 pm
Summary: Two recent instances now by senior African National Congress officials point to the imminent likelihood of privately owned land expropriated without compensation. The land reform development, combined with other negative economic metrics, undermine budgetary controls and inflate borrowing costs and bond prices and yields. Economic confidence is further degraded. Winning 2019 general elections is quickening the move to expropriate without compensation. Premier David Makhura of Gauteng province in South Africa – the area comprising Johannesburg, the country’s economic hub, as well as Pretoria, the seat of the executive branch – stated June 15 his government intention to expropriate unused …
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