JOHANNESBURG– South African President Cyril Ramaphosa has assured international rating agency Moody’s Investor Services that proposed land reform in the country will take place within a clear legal framework.
Ramaphosa, who met with the rating agency as Head of State for the first time on Wednesday, spoke about various initiatives being made by his government to attract investment and accelerate job creation.
He told Moody’s that the government would ensure that the proposed expropriation of land without compensation did not negatively affect economic growth and agricultural production.
Fresh consultations on the Mining Charter and the recent Cabinet reshuffle are some of the initiatives that Ramaphosa advanced to the rating agency in an effort to demonstrate the country’s commitment to deal with its on-going challenges.
The officials from Moody’s met Finance Minister Nhlanhla Nene on Monday.
Moody’s is due to announce its latest outlook on South Africa on March 23.
Source: NAM NEWS NETWORK