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“Minister’s devilish formula for property valuation in restitution cases unpacked” – Biznews

16 May 2017

By Dr Anthea Jeffery

“Under a formula devised by Gugile Nkwinti, minister of rural development and land reform, the value the state assigns to property targeted for land reform will generally be about half of market value. It could often also be zero. This formula is to be found in draft regulations recently gazetted by Mr Nkwinti under the Property Valuation Act of 2014, which took effect on 1st August 2014. Under this Act, the Valuer General – a state official appointed by the minister – is responsible for ‘determining’ the value of all property identified for ‘land reform’ purposes…” – Biznews

Read the full article from Biznews.

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