ANC pushing on with plan to nationalise the Reserve Bank

South Africa’s ruling African National Congress wants to test whether land reform is permitted under the prevailing constitution, and if not, it will be amended, Ace Magashule, the party’s secretary-general, said.

“We are going to start expropriating land without compensation,” Magashule told reporters in Johannesburg after a meeting of the party’s national executive committee.

“We are not going to wait any longer. It will be done in an orderly fashion.”

The ANC decided at its national conference in December to change the constitution to allow for land seizures, a move the main opposition Democratic Alliance and farmers’ groups say will deter investment.

On Feb. 27, lawmakers agreed to the principle and told parliament’s constitutional review committee to propose legal changes needed to facilitate the process.

Magashule said the ANC’s leadership had also resolved to speedily implement a resolution to nationalize the central bank and had tasked its economic transformation committee to engage with affected parties to see how this could be achieved.

The party has yet to decide on a replacement for Supra Mahumapelo, who stepped down as premier of the North West province last week, he said.

Read: Two new proposed laws target the Reserve Bank and healthcare in SA

Must Read

Partner Content

Show comments

Trending Now

Follow Us

ANC pushing on with plan to nationalise the Reserve Bank