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Johannesburg - The African National Congress's proposed cap on land ownership is irrational and could lead to restrictions on other assets, Afribusiness said on Friday.
"[The] ANC’s ceiling on land is irrational and arbitrary. A ceiling on land ownership may be the precursor of restrictions on other assets," CEO Cornelius Jansen van Rensburg said.
ANC secretary general Gwede Mantashe on Wednesday said the ruling party was calling for a cap on land ownership in the country.
READ: Cap land ownership - ANC
He was speaking after a meeting of the party's national executive committee.
"Lekgotla has resolved that there should be a ceiling on land ownership of a maximum 12 000 hectares or two farms for both natural and all forms of legal persons," he told reporters in Johannesburg.
"Land ownership by foreign nationals will also be prohibited."
READ: ANC calls for faster land ownership
Jansen van Rensburg said 12 000 hectares was an arbitrary figure which would not have the same productivity level or value in different provinces.
"The ANC wrongly believes that you can address inequality by restricting ownership, while the real challenge is a lack of ownership.
"A ceiling on land ownership will not lift anyone out of poverty... The ANC does not understand that ownership is a fundamental right that should not be limited."
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