The civil rights organisation AfriForum published an investors\u2019 guide today to warn foreign investors about the dangers of expropriation without compensation in South Africa. The guide is aimed at empowering them with information to allow them to put pressure on the South African government to discontinue economically destructive policies. It was published as part of AfriForum\u2019s #TheWorldMustKnow campaign to strengthen investor confidence in South Africa rather than deter investors.<\/p>\n
\u201cThe underlying fact is that the South African government is dabbling in destabilising policy ideas, however. These have already created great distrust among investors,\u201d says Ernst Roets, AfriForum\u2019s Head of Policy and Action. \u201cInvestors\u2019 confidence cannot be sustained by people who are pulling the wool over investors\u2019 eyes and trying to sell horse manure as ice-cream. This is rather achieved by empowering potential investors with the necessary information to put pressure on government to discontinue these destabilising policy ideas.\u201d<\/p><\/blockquote>\n
The investors\u2019 guide was compiled with specific reference to the report that was published in the past year by President Cyril Ramaphosa\u2019s advisory panel on land reform. Ramaphosa affirmed the recommendations of the panel during his State of the Nation Address on 13\u00a0February 2020 and said that implementation would go ahead. The report can therefore be seen as a summary of Ramaphosa and government\u2019s plan on land reform.<\/p>\n
Problems with the plan pointed out in the investors\u2019 guide include the following:<\/p>\n
\n
- The process to obtain the public\u2019s inputs on expropriation without compensation was littered with procedural irregularities.<\/li>\n
- Statistics were fabricated or selectively cited to motivate the alleged necessity for a more radical redistribution of land.<\/li>\n
- Government\u2019s ideas are economically na\u00efve and have racist undertones.<\/li>\n
- It shows significant ignorance for the realities of commercial agriculture.<\/li>\n<\/ul>\n
The report \u2013 which was distributed internationally \u2013 encourages potential investors to use their influence by taking a stand in public and taking up their preconditions with government instead of simply withdrawing their investments without taking a stand.<\/p>\n
A deputation from AfriForum leaves for the US today to launch the first leg of its #TheWorldMustKnow campaign<\/p>\n","protected":false},"excerpt":{"rendered":"
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