Tag: Land Bank

The good news stemming from the Medium Term Budget Policy statement (MTBPS) is that in 2023/24, South Africa is expected to achieve its first primary budget surplus in 15 years and this will be achieved with no new revenue enhancing measures from 2023/24 onwards. 

South Africa’s economic recovery relies to a large extent on creating a more enabling business environment and putting the right structural economic reforms in place. The country needs to prioritise those reforms that will deliver results both in the short and long term and put the ruling party’s tendency to revert to ideological thinking aside in the interests of rescuing the economy.

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.

In the Land Bank’s 2018 Annual Report released earlier this week, the top risk on a list of 18 principal risks is unsurprisingly the issue of land reform and the impact of the possibility of Expropriation Without Compensation (EWC).