Farmers must not panic

particularly concerned about investor perceptions and may proceed with seizing land regardless of the economic and other ramifications, and then move on to other asset classes as well.’

The IRR said it had long cautioned that undermining property rights will have catastrophic economic and social ramifications, going as far as pointing out that the consequences could be as severe as those in Venezuela and Zimbabwe.

‘We predict that the policy of expropriation without compensation will trigger accelerated currency devaluation, stall foreign and domestic investment flows, drive the economic growth rate downwards – and possibly into recession by 2019 – and increase unemployment and poverty rates,’ the statement read.

Meanwhile AgriSA slammed AfriForum for creating unnecessary panic among the farming community.

According to the Mail & Guardian, AgriSA said AfriForum’s list contained several inaccuracies and incomplete information on title deed descriptions - and did not take note of farms that were joint ventures or were subdivisions of larger farms.

President of AgriSA, Dan Kriek, said they were in the process of establishing the legitimacy of the list of farms.

‘It is irresponsible of AfriForum to publish such unconfirmed information, knowing it to be inflammatory.’

AgriSA further cautioned farmers not to panic as the Constitution has not yet been changed.

‘The requirement for expropriation remains just and equitable compensation,’ said said Annelize Crosby, AgriSA Head of the Centre of Excellence: Land.

‘Expropriation cannot happen overnight and can only take place for reasons specified in a law of general application.

‘There are various prescribed steps that must be followed in expropriation.

‘This includes a notice of intention to expropriate, valuation of the property and negotiations with the owners,’

The requirement for expropriation remains just and equitable compensation