SA’s committed to protecting property rights and reviving economy
South African President Cyril Ramaphosa used an investment summit on Friday to reassure investors that his government was committed to protecting property rights as it pursues plans to accelerate the pace of land redistribution.
“We are committed as government to pursuing a comprehensive approach to land and agrarian reform which ensures transformation, development and stability,” Ramaphosa said in his opening speech to the summit.
“Our approach reaffirms the constitutional protection of property rights. I want to reaffirm that South Africa is very, very committed to property rights.”
Ramaphosa says turning economy around
President Cyril Ramaphosa added that the economy was at an investment grade and that he was in the process of improving Africa’s most industrialised economy.
“I’m willing to argue my case with them and say look at us anew… we are turning this ship around, admittedly we will not turn immediately but it is on the way to turning,” Ramaphosa said on Bloomberg television an investment summit in Johannesburg, referring to ratings agencies.
Moody’s is the only one of the “big three” agencies to rate South Africa at investment grade. South Africa is rated “junk” by S&P Global Ratings and Fitch.
Source: moneyweb.co.za
