Cyril Ramaphosa reassures investors about land reform

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Cyril Ramaphosa reassures investors about land reform

8:48 CAT | 21 Nov 2018

Cyril Ramaphosa. Picture: Esa Alexander

President Cyril Ramaphosa has once again assured investors that their assets in SA will be safe, saying the land reform process will be undertaken in an orderly and lawful manner.

Ramaphosa hosted German President Frank-Walter Steinmeier in Tuynhuys, Cape Town on Tuesday. The German president is in the country for an official state visit.

Last week, parliament’s joint constitutional review committee resolved to officially recommend that the constitution should be amended to make it explicit that expropriation without compensation is one of the means that can be used to address the skewed land ownership patterns dating back to colonial and apartheid eras.

During a joint media briefing with Steinmeier, Ramaphosa reiterated that the land question needs to be addressed, but said this should be done within the confines of the law and ensure that property rights are respected.

‘‘There will be no land grabs. Investors should have no fear,’’ Ramaphosa said.

Steinmeier suggested that the issue of ‘‘dispossession’’ has to be addressed.

Germany had to deal with the matter of dispossession when East and West Germany were reunited in 1990, he said. Steinmeier said SA’ s renewed fight against corruption put the country in good stead in terms of attracting foreign investment.

Germany is SA’s third-largest trading partner. More than 600 German companies have subsidiaries or production plants in SA sustaining about 100,000 jobs.

Source: Business Day Live