Sona wrap: Zuma drops bomb on land ownership

Feb 13 2015 07:44 Donwald Pressly

President Jacob Zuma (AP)
President Jacob Zuma (AP)

PRESIDENT Jacob Zuma has acknowledged that South Africa is facing economic challenges, but put the blame largely on “a difficult economic climate” globally.

The president shocked the nation by announcing that foreigners in future would “not be able to own land” and would be forced to lease properties. He did not spell out what would happen to existing foreign-owned land, but said local farmers’ land would also be restricted to 12 000 hectares.

http://www.fin24.com/Economy/Zuma-Global-woes-to-blame-for-economic-headwinds-20150213

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