Get App
Download App Scanner
Scan to Download
Advertisement
This Article is From Feb 20, 2020

South Africa to Pursue Land Reform Plans Despite Pompeo Criticism

(Bloomberg) --

South African President Cyril Ramaphosa said the government will press ahead with plans to distribute more land to the black majority in an orderly fashion, warning that a failure to do so would perpetuate an injustice that dates back to apartheid rule and constrain the economy.

“Land reform is an essential part of inclusive growth,” Ramaphosa said in a speech to lawmakers in Cape Town on Thursday. He reiterated that the government supported changing the constitution to make it easier for it to take land without compensation.

Ramaphosa's comments came a day after U.S. Secretary of State Michael Pompeo cautioned that land expropriation would be disastrous for Africa's most industrialized economy and described the policy proposal as an example of centralized planning that has failed in other African states like Zimbabwe.

“Land grabs will not be allowed to happen in our country,” Ramaphosa said. “We refuse to be reckless.”

READ: Pompeo Warns South Africa's Land Plans a Disaster for Economy

To contact the reporter on this story: Paul Vecchiatto in Cape Town at pvecchiatto@bloomberg.net

To contact the editors responsible for this story: Paul Richardson at pmrichardson@bloomberg.net, Mike Cohen

©2020 Bloomberg L.P.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email

News for You

Set as Trusted Source
on Google Search