The announcement that foreigners may not be allowed to own land in future has triggered investor anxiety. A press release from the Presidency allays fears. It says government aims to address the following matters:
- The need to secure SA’s limited land for food security and address the land injustice of more than 300 years of colonialism and apartheid. 45% of the population (23 million South Africans) live on or below the poverty. 58% of these poverty stricken people are in rural areas;
- Access to a land allotment for households and rural entrepreneurs and enterprises has shown to go a long way in addressing equity and poverty (two of SA’s triple challenges).
- Furthermore, in many instances high value agricultural land has had its use changed to luxury and leisure uses and environmentally sensitive lands have also been inappropriately developed;
- In some parts of the country escalations in prices have been experienced, which have made land in these areas inaccessible to citizens;
- The proposed policy makes provisions for exemptions to access lands in classified areas based on certain conditions, primarily developmental.
