ANC only tolerates, not respects, property rights.

The ANC only tolerates, but does not really respect, property rights. It’s unsurprising, if not disappointing, that an ANC under the presidency of Cyril Ramaphosa continues to move away from a market economy. AfriBusiness will strongly oppose this, where applicable, with legal action and, where necessary, with stronger measures.This is the position of AfriBusiness in the wake of policy decisions at the ANC’s 54th National Conference. With 12 000 members, AfriBusiness is one of the largest business organisations in the country.

“The ANC is essentially ramping up radical economic transformation. Resolutions taken strikingly include expropriation without compensation and the nationalisation of the South African Reserve Bank – but those are just the headlines. With few exceptions, what comes from this conference will be economically and socially damaging,” says Piet le Roux, CEO of AfriBusiness.

“Fortunately, the bad news is also mostly old news. The ANC has not suddenly taken a new direction and will with implementation be hampered just about as much as it has been in recent years. Organised business and civil society should try their best to make it even more difficult for the ANC to give effect to their resolutions.”