Expropriation of the land can succeed if no productive land is taken – Land Bank



For expropriation of land without compensation (EWC) to succeed production country may not be taken out of production, said the Landbank Monday.

The whole process must also be free of corruption, it said.

De Landbank is of the opinion that good land reform, even without compensation, can be good for South Africa if it is done properly.

However, it cautions that if the government does not protect it as a lender, it has to cough up R9 billion because of agreements it has made that protects against EWC or that it will default on R41 billion of its loans. (due to standard clauses about cross-standards)which government should regulate.

De Landbank reported a profit of R254 million for the year up to 31 March 2018.

The money show'S Bruce Whitfield interviewed the Bank Director of the Land Bank, TP Nchocho.

Listen to the interview in the audio below (and / or scroll down for quotes).

The total loan portfolio amounts to R46 billion … R6 billion [is to black farmers]…

TP Nchocho, Land Bank

We have no reason to believe that the policy outcome will be such that this translates into non-recognition of the creditor status of banks …

TP Nchocho, Land Bank

R1.5 billion [of loans made the past year] went to farms that are largely owned by black people …

TP Nchocho, Land Bank

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Expropriation of the land can succeed if no productive land is taken – Land Bank



For expropriation of land without compensation (EWC) to succeed production country may not be taken out of production, said the Landbank Monday.

The whole process must also be free of corruption, it said.

De Landbank is of the opinion that good land reform, even without compensation, can be good for South Africa if it is done properly.

However, it cautions that if the government does not protect it as a lender, it has to cough up R9 billion because of agreements it has made that protects against EWC or that it will default on R41 billion of its loans. (due to standard clauses about cross-standards)which government should regulate.

De Landbank reported a profit of R254 million for the year up to 31 March 2018.

The money show'S Bruce Whitfield interviewed the Bank Director of the Land Bank, TP Nchocho.

Listen to the interview in the audio below (and / or scroll down for quotes).

The total loan portfolio amounts to R46 billion … R6 billion [is to black farmers]…

TP Nchocho, Land Bank

We have no reason to believe that the policy outcome will be such that this translates into non-recognition of the creditor status of banks …

TP Nchocho, Land Bank

R1.5 billion [of loans made the past year] went to farms that are largely owned by black people …

TP Nchocho, Land Bank

Receive the 10 most read articles of the week from Bruce Whitfield's The Money Show, by e-mail every Friday morning:


Source link

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