Tag: Bilateral Investment Treaty (BIT)

There is no denying that we live in the most technologically advanced era the Earth has ever seen and this is due to property rights and free trade. Removing restrictions on trade between individuals in a country is important, but removing restrictions on trade between individuals in different countries is arguably even more important given the enormous size of the global market compared to any single country’s domestic market.

Hot on the heels of President Ramaphosa telling the European Parliament on 14 November  that South African land reforms will be enacted in adherence to the country’s Constitution, the joint constitutional review committee formally recommended that section 25 of the Constitution be amended to allow for expropriation of land without compensation.

President Cyril Ramaphosa activated the controversial Investment Act 22 of 2015, by publication of a notice in the Government Gazette, on Friday 13 July.