https://www.rt.com/business/436539-south-africa-land-default/
"""South Africa’s land expropriation could trigger default, warns agricultural bank"""
Seizing privately-owned land without compensation could be costly for the South African economy. The government would be forced to bail out banks as farmers stop investing and paying off debts, warns state-owned Land Bank.
The government's new decree on land reform could trigger defaults that would cost the economy 41 billion rand ($2.8 billion) if the bank’s rights as a creditor are not protected, according to the lender. Land Bank is an agricultural bank guided by a government mandate to provide financial services to the commercial farming sector and agri-business.
South African President Cyril Ramaphosa announced this month that his government is enforcing a change in the constitution to allow the expropriation of land without compensation. According to the ruling Africa National Congress party (ANC), the white minority in the country still own most of the land more than two decades after the end of apartheid.
The ANC wants to redistribute the land confiscated from white farmers to the black citizens of the country. Land Bank chairman Arthur Moloto said expropriation without compensation would immediately cost the bank 9 billion rand (about $620 million).