ANC meets Agri SA on land

CENTURION - The ANC says it’s not going allow the banking sector and the economy to crash due to land expropriation without compensation.

Fikile Mbalula assured stakeholders at a land meeting between the ANC and Agri SA in Centurion, but the ruling party could not answer exactly how it would ensure this.

Agri SA says section 25 of the Constitution should not and must not be amended.

READ: Nedbank warns land expropriation could spark banking crisis

The ANC fell short on detail as to how it’ll protect the banking sector and the economy.

ANC leader Enoch Godongwana said the banks are exposed to the tune of R160-billion to this sector.

"As we were crafting the resolution we are quite aware of that, that in such, as we embark on this journey that we should not create systemic risk in the system,” said Godongwana.

The ANC is reluctant to give away too much about the land it’s set its sights on.

READ: Banks caution against Constitutional amendment

Agri SA believes there should be private intervention in poor state departments, and previously disadvantaged people must own their property and not the state.

The ruling party is reiterating that nationalisation of land is not on the cards.

Analysts say this is a complicated matter to deal with, as South Africans remain deeply divided.