Land repatriation in safe hands – Swiss bank
14 Jan 2019 - by
The galvanising effect of President Cyril Ramaphosa on fractious ANC relations, particularly within the KwaZulu-Natal stronghold affiliated to his predecessor, Jacob Zuma, boded well for the possible impact land repatriation could have on global markets, said UBS.
In its recent Investing in Emerging Markets report, the Swiss investment bank noted that Ramaphosa’s cabinet, loaded as it is with professionals well equipped to steer their respective portfolios, had helped to calm fears about discourse-dominating topics such as expropriation without compensation (EWC).
Initial predictions that Ramaphosa’s perceived strength in leadership could secure at least 60 percent of the vote for the ANC in the forthcoming elections is also adding to a growing sense of confidence international investors are said to have in South Africa.
UBS also stressed that it was important for the widely held international impression that Ramaphosa’s government was populated by market-oriented ministers to remain on track and to gather momentum.
The bank added that thus far there seemed to be general consensus that EWC in South Africa would be handled responsibly and that no Zimbabwe-style land grabs would be tolerated.