Government aims to ban foreigners from buying land

Government wants to ban foreigners from buying agricultural land.

It also wants to compel foreigners selling land to offer the Rural Development and Land Reform Minister the right of first refusal.

The Minister (Gugile Nkwinti) published the Regulation of Agricultural Land Holdings Bill on Friday, giving stakeholders until 16 April to comment.

Arabile Gumede (in for Bruce Whitfield on The Money Show) interviewed Theo Boshoff (Manager: Legal Intelligence at Agricultural Business Chamber).

Listen to the interview in the audio below (and/or scroll down for quotes from it).

Foreign direct investment is very crucial.

Theo Boshoff, Agricultural Business Chamber

We’re in agreement with land reform, but we don’t think this Bill will be the best way to affect it.

Theo Boshoff, Agricultural Business Chamber

Compulsory right of first refusal works well in Namibia.

Theo Boshoff, Agricultural Business Chamber

The Bill makes provision for corporations. If a company is registered abroad it would be considered as a foreign person.

Theo Boshoff, Agricultural Business Chamber

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Article brought to us by Old Mutual.

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