23.06.2015

Nkwinti defends foreign land ownership

Government on Tuesday tried to alleviate jitters that the prohibition of land ownership by foreign nationals would drive away investors.
- IOL News 

“Our conviction is that any investor, whether foreign or national, wants policy certainty. Once they understand what the policy is, they adapt accordingly,” Minister of Rural Development and Land Reform, Gugile Nkwinti said in the National Council of Provinces (NCOP) while presenting his deparment’s budget vote speech...
The prohibition of land ownership by foreign nationals has drawn a sharp response from, particularly, the Banking Association of South Africa, Agricultural Business Chamber and AgriSA. The basis of their rejection is that it will drive away foreign investment, not only in the agricultural sector, but in the economy as a whole. Read article

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