Manuel Says Investors Wary of S. Africa Land Reform, BD Reports

(Bloomberg) -- Foreign investors are wary of radical land reform in South Africa and are concerned that it may harm property rights, the financial sector and food security, Business Day reported, citing former Finance Minister Trevor Manuel.

Manuel, one of four investment envoys appointed by President Cyril Ramaphosa tasked with attracting $100 billion of foreign investment to the country in the next five years, has found explaining the country’s land debate to foreign investors tougher than expected, the Johannesburg-based newspaper reported.

Lawmakers started a process to change the constitution to allow for expropriation of land without compensation in February after the ruling party decided last year to adopt the measure as a policy to speed up giving black people more land.

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