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A monumental land claim that makes all others look insignificant, is hypothetically possible.
Most South Africans are acutely aware of the land claims law and President Zuma’s recent encouragement to traditional leaders to take advantage of it.
But I wonder how many Chinese are aware of it. This is not to imply that the Chinese are not shrewd and intelligent investors and businesspeople. Far from it. But they might not be familiar with the peculiarities of ANC economics.
Officially known as the Restitution of Land Rights Amendment Act, and rushed through parliament before last year’s general election, it allows new land claims to be lodged until end-June 2019. Make a mental note of that date because it is about to become very important.
Chinese construction company, Shanghai Zendai, is set to invest R84 billion – about 336 Nkandlas – in the construction of the “Manhattan of Africa” in Modderfontein, eastern Johannesburg. The entire freeway upgrade resulting in the etoll abomination “only” cost R20 billion!
This mammoth project was confirmed at a press conference in November 2013. At that stage, there was no amendment act to the Restitution of Land Rights Act. I imagine the Chinese were probably thrilled to be increasing their economic footprint in Africa.
Apparently, construction has already begun on infrastructure and housing. So, a few years from now, there will be roads, water reticulation and sewerage systems, electricity (for whatever that is worth) and thousands of houses.
BOOM! Enter the amendment act from stage left!
I wonder if the Chinese are losing any sleep at night over the fact that tomorrow, some traditional leader might wake up and decide that he will lodge a massive land claim over a certain property in Modderfontein.
If I was that traditional leader, I would wait until early-June 2019. Let the gullible Chinese spend billions on my new kingdom and then hit them with some traditional South African economics.
