South African President Says That There Will Be 'No Smash And Grab' Land Reform Even Though He Just Voted For It

Daily Mail: South African president vows to settle the transfer of land from white to black owners, saying: 'This sin that was committed when our country was colonised must be resolved'

* Issue of racial disparity in land ownership remains emotive issue in South Africa
* Cyril Ramaphosa wants to speed up transfer but said there's no need to panic
* Group representing white South Africans warned foreign investment at risk
* White farmers still control nearly the same amount of land as in apartheid era

South African President Cyril Ramaphosa has said he wants the issue of the transfer of land from white to black owners to be resolved 'once and for all'.

The nation moved to hasten the transfer on Tuesday when parliament backed a motion seeking to change the constitution to allow land expropriation without compensation.

The ruling African National Congress (ANC) has long promised reforms to redress racial disparities in land ownership and the subject remains highly emotive more than two decades after the end of apartheid.

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WNU Editor: When a government makes the decision to forego the principle of property rights without compensation, it just kills foreign investment. For a country like South Africa where much of the wealth that is being created is based on open markets and the attraction of foreign investment and expertise to manage the country's enormous mineral wealth .... this kills future plans. Everyone also knows that when the process of taking assets without compensation starts .... it is not going to stop with seizing farms. It is going to go elsewhere .... including the nationalization of companies. And who benefits from this transfer of wealth ..... not the average black African .... but the government elites who control the process of who gets what, and who does not. This is the sad history of Africa .... and one of the many reasons why the continent has not reached its potential 60 years after the end of colonial control .... and now being repeated by South Africa.

More News On South African President Saying That There Will Be 'No Smash And Grab' Land Reform

South Africa's leader says 'no smash and grab' land reform -- ABC News
South Africa: Ramaphosa - Land Motion 'No Reason to Panic or Beat the War Drum' -- All Africa
Why South Africa's govt plans to strip land from white farmers -- RT
ANC unity cracks over land issue -- Paddy Harper & Govan Whittles, Mail & Guardian