JOHANNESBURG, SOUTH AFRICA (JULY 5, 2017) (REUTERS) – South Africa’s ruling party failed on Wednesday (July 5) to agree a clear plan to get the economy out of recession and tackle near-28 percent unemployment, but risked rattling investors with pledges on nationalising the central bank and expropriating land.
The ANC officially agreed to accelerate land reform, with the possibility of expropriation without compensation as a last resort, without giving any details on how it would navigate the constitution to do this.
Any policies recommended this week need to be ratified at a December conference where President Jacob Zuma’s replacement as head of the ANC will be named. With the party deeply divided between factions supporting Deputy President Cyril Ramaphosa and Zuma’s ex-wife Nkosazana Dlamini-Zuma, a former African Union chair, it may be difficult to come to an agreement.
Political analyst Aubrey Matshiqi sai the ANC had failed to “bridge the gap between policy and reality”.