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...


Recommended

by NEWSROOM AI
Read More
[LISTEN] What are the factors driving emigration?

[LISTEN] What are the factors driving emigration?

Emigration specialist Craig Smith says countries like New Zealend and Australia have become an option for more South Africans.

[LISTEN] 'Racial isolation still continues in SA, though in informal ways'

[LISTEN] 'Racial isolation still continues in SA, though in informal ways'

Joanne Joseph sat down with Professor of theological and social ethics at Fordham University, Father Bryan Massingale.

[LISTEN] 'If you suffer from any chronic disease, please disclose it'

[LISTEN] 'If you suffer from any chronic disease, please disclose it'

The convener of ASISA, Dr Maritha van der Walt, explains what would make insurers not payout on policies.

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
[WATCH] An  excruciating moment as  woman jumps into frozen lake...ouch!

[WATCH] An excruciating moment as woman jumps into frozen lake...ouch!

Khabazela shares tweets and Facebook posts that have gone viral.

'Momentum did nothing wrong, legally. But the man died protecting his family!'

'Momentum did nothing wrong, legally. But the man died protecting his family!'

The Money Show’s Bruce Whitfield interviews consumer journalist Wendy Knowler.

'The universe is an extremely high-risk investment by the Creator'

'The universe is an extremely high-risk investment by the Creator'

Bruce Whitfield interviews Professor David Block about his attitude toward money (hopes and fears, successes and failures, etc.).

Markus Jooste will absolutely hate this book by FM Editor Rob Rose

Markus Jooste will absolutely hate this book by FM Editor Rob Rose

Financial Mail Editor Rob Rose talks about his book, “Steinheist: Markus Jooste, Steinhoff and SA’s biggest corporate fraud”.

Wife of Nathan Ganas speaks out over Momentum's refusal to pay up

Wife of Nathan Ganas speaks out over Momentum's refusal to pay up

Momentum has refused to pay a R2.4 million policy payout citing a non-disclosure breach

6 dumbest things people in their 20s do with money

6 dumbest things people in their 20s do with money

Sam Beckbessinger, the author of “Manage Your Money like a F*cking Grownup,” has some tips, so you don’t have to live with regret.

[LISTEN] 'We will not pay out the insurance claim', MMI CEO tells Eusebius

[LISTEN] 'We will not pay out the insurance claim', MMI CEO tells Eusebius

Eusebius McKaiser engages MMI CEO in a fiery debate about why they won't pay gunshot victim's R2.4 million policy claim.

VW vehicle nightmare to cost customer R23 000  after third engine fails

VW vehicle nightmare to cost customer R23 000 after third engine fails

A brand new Touran that's had three new engines since 2012 is about to cost the customer R23 000 for a fourth engine.