South Africa’s land policy a disaster for the economy: US Secretary of State

The South African government’s plans to expropriate land without compensation would be disastrous for the economy, US Secretary of State Mike Pompeo said.

The policy proposal is an example of centralised planning that has failed in other African states like Zimbabwe, Tanzania and Ethiopia, Pompeo told reporters Wednesday in the Ethiopian capital, Addis Ababa.

“South Africa is debating an amendment to permit the expropriation of private property without compensation,” he said. “That would be disastrous for that economy, and most importantly for the South African people.”

African economies need “strong rule of law, respect for property rights, regulation that encourages investment” for inclusive and sustainable economic growth, Pompeo said.


Read: South Africans are already withholding investments because of land expropriation: Basa

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South Africa’s land policy a disaster for the economy: US Secretary of State