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...
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