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Old 12th Sep 2018, 07:09
  #111 (permalink)  
ORAC
Ecce Homo! Loquitur...
 
Join Date: Jul 2000
Location: Brighton
Age: 65
Posts: 9,681
ANC land reform threat hits values

The value of South Africa’s farmland has plunged by a third since the government announced that it would accelerate land reform.

The Deeds Office said that the average price per hectare in July was 475, down from 695 in December when the ANC adopted expropriation without compensation. A record number of rural properties are on the market as farmers panic about the ANC’s intentions.

It was also announced last week that South Africa had gone into recession, amid a 30 per cent drop in agricultural output.

President Ramaphosa’s decision to press ahead with expropriation has rattled international investors and hit the rand. Critics fear that it could lead to violent farm seizures, as in Zimbabwe.

Mr Ramaphosa has insisted that food security will be prioritised.......




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