SA's land expropriation plans making markets nervous - Goldman Sachs
Goldman Sachs’ Africa chief says there is some nervousness in the market.
CAPE TOWN - Goldman Sachs is warning that South Africa's plan to expropriate land without compensation is causing nervousness in the market.
The global financial company's director in Africa Colin Coleman says that the firm cannot preempt the process.
A motion to review a section of the Constitution to pave the way for the expropriation of land without compensation, was passed by an overwhelming majority in the national assembly last week.
“We can’t preempt what that process is going to be so there is naturally some nervousness in the market,” Coleman told a conference in Cape Town.
“One has to be confident we are not going to end up in an irrational space and we will end up close to a rational position.”