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ABSA aware of need to resolve issue of land reform

Mar 04 2018 06:00
Silver Sibiya

Barclays Africa CEO Maria Ramos said this week that the bank was aware of the need to deal with land reform in the country and to find a resolution.

“There is no doubt that dealing with sustainable land reform is fundamental to our country. That is why this issue was dealt with as part of the Constitution,” she said on Thursday.

“I think there is an ongoing debate about this. We are conscious and deeply aware of the resolution that has been taken by the African National Congress and the resolution that was taken at the parliamentary debate.

“The fact that the matter is being referred to the parliamentary constitutional review committee is going to be debated and there is going to be work done there.”

This week parliament adopted a motion, initially proposed by the Economic Freedom Fighters, for a committee to review Section 25 of the Constitution, which deals with property and land expropriation.

The motion was adopted with a vote of 241 in support, and 83 against.

The matter will now be referred to the Constitutional Review Committee, which must report back to Parliament by August 30.

She said it is fundamentally important for SA to find a resolution. “We [Barclays Africa Group] will also be supportive for expropriation of land, it has been part of the Constitution. I think the time has come to do this as a country.”

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