Parliament concludes hearings into Land Expropriation without Compensation

Friday marked the final day of the second phase of land hearings. The constitutional review committee has spent two months listening to submissions from South Africans in all nine provinces.

The hearings concluded with submissions from the Banking Association of SA and Business Unity South Africa, who have opposed the amendment.

Eyewitness News reporter Babalo Ndenze has more.

The first submission was from the Banking Association of South Africa which was led by Cas Coovadia. Their submission is that they are not opposed to land reform but they don't see a need for an amendment of Section 25 specifically.

Babalo Ndenze, EWN parliamentary reporter

Nedbank CEO Mike Brown is also of a similar view that there is no need to fiddle with Section 25, we should rather improve existing policies and land initiatives to address land reform. Nedbank is basically saying that any material negative impact on property prices would adversely impact the confidence in the banking system and could trigger a classical banking crisis.

Babalo Ndenze, EWN parliamentary reporter

Business Unity South Africa is also saying there is no problem with Section 25 which allows for expropriation within the provision of just and equitable compensation, so there is nothing stopping government according to most of these organisations.

Babalo Ndenze, EWN parliamentary reporter

Click on the link below to listen to the full report...


This article first appeared on 702 : Parliament concludes hearings into Land Expropriation without Compensation


Recommended

by NEWSROOM AI
Read More
[LISTEN] Rescue operations at Gloria Mine still on hold

[LISTEN] Rescue operations at Gloria Mine still on hold

Minister of Mineral Resources Gwede Manatshe visited the mine on Friday for a progress update.

'Icasa can't act against Mohlaloga until a pronouncement is made by Parliament'

'Icasa can't act against Mohlaloga until a pronouncement is made by Parliament'

Rubben Mohlaloga's been handed a 20-year prison sentence, but Icasa says he remains its chairperson for now.

Government putting up millions for Caster Semenya's defence in IAAF battle

Government putting up millions for Caster Semenya's defence in IAAF battle

Next week's hearing will challenge the IAAF’s proposed rule aimed at restricting testosterone levels in female runners.

South Africa is ready for business and China gives land reform a thumbs up

South Africa is ready for business and China gives land reform a thumbs up

EWN reporter Clement Manyathela says Xi Jumping has given South Africa’s land reform policy the thumbs up.

Why parliament has withdrawn Expropriation Bill and what it means

Why parliament has withdrawn Expropriation Bill and what it means

Public hearings on land reform are currently underway throughout the country.

[LISTEN] UK Prime Minister Theresa May supports SA's land reform

[LISTEN] UK Prime Minister Theresa May supports SA's land reform

Eyewitness News reporter Gaye Davies and Economist Mandla Maleka on Theresa May's in Cape Town.

Popular articles
Traffic congestion: Capetonians spending 75% more time in vehicles

Traffic congestion: Capetonians spending 75% more time in vehicles

Cape Town has the worst congestion levels in the whole of South Africa.

DStv subscription price hikes for 2019

DStv subscription price hikes for 2019

MultiChoice will increase the prices of certain DStv packages from 1 April.

'Bring back skilled engineers to Eskom' - Solidarity

'Bring back skilled engineers to Eskom' - Solidarity

Trade Union Solidarity says it supports Pravin Gordhan's idea that technicians who used to work for Eskom should be brought back.

Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Eskom has warned that more power cuts can be expected as maintenance continues over the next twelve months.

How to make sure your aluminium windows are burglar-proof

How to make sure your aluminium windows are burglar-proof

Houses with aluminium window frames are urged to tighten up security as a new home invasion trend grows in the northern suburbs.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.