SA panel recommends regulating foreign land ownership

It would also need to be subject to the inclusion of a comparative analysis of how other countries have managed the policy issue, explained Maseko. This was after Cabinet received and noted the report during its regular meeting Tuesday. Cabinet held its meeting ahead of the three-day mid-year Cabinet Lekgotla that also kick-started Tuesday.

 
 The panel's recommendations include:
l  compulsory disclosure of the foreign buyers' details in line with the Financial Intelligence Act (FICA);
l special ministerial approval where certain categories of land are being considered for disposal, for example, land earmarked for land reform, restitution or integrated human settlement;
l identifying instances preventing foreign ownership of land that can be justified; and
l the setting up of an Inter-Ministerial Committee, consisting of the Departments of Agriculture and Land Affairs, Provincial and Local Government, Environmental Affairs and Tourism, and Public Works.