While headlines were initially confusing, South Africa's controversial land confiscation reform, in which some white-owned land could be expropriated without compensation, is still going ahead through its constitutional change but authorities have confirmed that Zulu lands will not be impacted.
The following Bloomberg headline triggered buying in the rand...
- *S. AFRICA EXPRORIATION BILL WITHDRAWN AMID CONSTITUTION REVIEW
While the market's kneejerk response has been positive, with the rand jumping on the news...
...but as details came out, this should be seen as a head-fake, as it is merely exempting Zulu land from the government's confiscation plan.
As Bloomberg reports, plans to expropriate land without compensation won’t transgress on communal areas, Magashule told reporters Tuesday in Johannesburg a day after after party executives met with traditional leaders.
The government is considering legislation to repeal a trust that holds all the land that belongs to the Zulu nation and of which King Goodwill Zwelithini is the sole trustee.
“We affirmed our view that the kings and chiefs are the rightful custodians of communal land for and on behalf of the people and communities in the traditional areas,” Magashule said.
“The ANC will never be part of any attempt that seeks to tamper with authority of traditional leadership over the land of their ancestors including traditional communities.”
This decision comes after King Goodwill Zwelithini sounded a warning in July about potential clashes if the government dissolves the Ingonyama Trust, which accounts for a large part of the KwaZulu-Natal province, a region larger than Hungary.
The parliamentary committee tasked with land reform on Section 25 of the constitution is not expected to decide until September 27.
Furthermore, recall that as we reported yesterday, South Africa's "Black Hitler", Julius Malema said that he is prepared to die if it means South Africa will achieve land expropriation without compensation.
Additionally, Malema has accused President Ramaphosa and the Democratic Alliance (DA) of colluding with AfriForum to sabotage plans to expropriate land without compensation. A decade ago few people had heard of Malema. Now he commands millions and grows more powerful each day.
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The bottom line is simple - white farmers are still f**ked, but Zulu leaders are safe.