Devaluation of land value cited as reason to reject Expropriation Bill
23 August 2021
The Portfolio Committee on Public Works and Infrastructure has been informed that the possibility that land will be devalued is the primary reason to reject the Expropriation Bill. On Sunday, the committee concluded its second leg of public hearings in the Northern Cape at the Tol Speelman Hall in Upington.
The majority of David Kruiper Local Municipality residents were not in favour of the Bill. They said it should be rejected because further deliberation and engagement is needed to ensure that the Bill is specific on when and how property will be expropriated. In addition, if the Bill is adopted in its current form, it will impact on the willingness of financial institutions to advance loans to assist in property improvements.
There was also a strong view that the right to own property is central to any civilisation and that the Bill has the potential to cause significant impairment to this right. Also, participants raised the risk to homeownership, food security and economic stability. They were also concerned that any uncertainty that leads to food insecurity and economic instability will hurt the poor, while the economic instability that may arise if the Bill becomes law will lead to increased unemployment and poverty.
However, residents also called for a collaborative effort between farm owners, workers, and other stakeholders to ensure that the agricultural sector remains stable and sustainable.