US President attacks SA’s land expropriation intentions, rand slides

PUBLISHED: Thu, 23 Aug 2018 09:52:02 GMT
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By Lubabalo Mashiqana

South Africa’s land expropriation without compensation intentions have caught the attention of United States President Donald Trump.

Trump tweeted on Thursday morning

— Donald J. Trump (@realDonaldTrump) August 23, 2018

This follows after SA’s President Cyril Ramaphosa had a Q&A on land expropriation in Parliament on Wednesday, and just over a month after land hearings began around the country. Apparently Trump’s tweet was motivated by the below Fox News insert.

Trump’s comments sent the rand 1.87% lower to the dollar to 14.42 as fears spooked investors that sanctions could be imposed on South Africa.

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