President Cyril Ramaphosa spoke with Elon Musk after the South African-born billionaire joined President Donald Trump in criticizing the country\u2019s new land expropriation law.<\/p>\n\n\n\n
Ramaphosa spoke to Musk \u201con issues of misinformation and distortions about South Africa,\u201d his office said in a statement on X on Tuesday. <\/p>\n\n\n\n
He \u201creiterated South Africa\u2019s constitutionally embedded values of the respect for the rule of law, justice, fairness and equality.\u201d<\/p>\n\n\n\n
Musk accused Ramaphosa\u2019s government of having \u201copenly racist ownership laws\u201d in a post on X Monday. He has also spread the baseless conspiracy theory that a \u201cgenocide\u201d is being carried out against White farmers in South Africa.<\/p>\n\n\n\n
Last year, Ramaphosa and Musk held talks about potential investments in South Africa, including the billionaire\u2019s Starlink business. <\/p>\n\n\n\n
In return, Musk wants the government to dilute local Black ownership requirements for his satellite network.<\/p>\n\n\n\n
Trump had earlier warned the US would halt future funding to South Africa because of the new legislation, which, like laws in other countries, including the US, allows the state to seize private land in the public interest, in some cases without compensation.<\/p>\n\n\n\n
The rand weakened as much as 2% against the dollar after Trump\u2019s tweet was posted on his Truth Social platform on Sunday. By Tuesday, it had recovered all of those losses to trade little changed so far this week.<\/p>\n","protected":false},"excerpt":{"rendered":"
President Cyril Ramaphosa spoke with Elon Musk after the South African-born billionaire joined in criticising the country\u2019s new land expropriation law.<\/p>\n","protected":false},"author":59,"featured_media":768339,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[1850],"class_list":["post-810326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government","tag-bloomberg"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/810326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=810326"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/810326\/revisions"}],"predecessor-version":[{"id":810328,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/810326\/revisions\/810328"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/768339"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=810326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=810326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=810326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}