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Home » South Africa’s Committed to Protecting Property Rights, Says Ramaphosa

South Africa’s Committed to Protecting Property Rights, Says Ramaphosa

JOHANNESBURG (Reuters) – South African President Cyril Ramaphosa used an investment summit on Friday to reassure investors that his government was committed to protecting property rights as it pursues plans to accelerate the pace of land redistribution. “We are committed as government to pursuing a comprehensive approach to land and agrarian reform which ensures transformation, […]

By SAPeople Contributor
27-10-18 00:30
in Business
REUTERS/Sumaya Hisham

JOHANNESBURG (Reuters) – South African President Cyril Ramaphosa used an investment summit on Friday to reassure investors that his government was committed to protecting property rights as it pursues plans to accelerate the pace of land redistribution.

President Cyril Ramaphosa speaks before Finance Minister Tito Mboweni’s swearing in ceremony at Tuynhuys in Cape Town, South Africa, October 9, 2018. REUTERS/Sumaya Hisham

“We are committed as government to pursuing a comprehensive approach to land and agrarian reform which ensures transformation, development and stability,” Ramaphosa said in his opening speech to the summit.

“Our approach reaffirms the constitutional protection of property rights. I want to reaffirm that South Africa is very, very committed to property rights.”

During the summit, over R290 billion worth of investment pledges were made to South Africa.

(Reporting by Alexander Winning and Ed Stoddard; Editing by James Macharia)