So I can basically lose my small piece of land that I purchased and paying off so when I have to retire one day I have a place to do so.
No. The bill outlines that EWC in this draft is specifically tailored towards landowners who purchase land with the sole intent of letting its value increase with rising valuations, and then sell it at a later date with a tidy profit.
The ANC has actually listened to some of the feedback here. Other countries are struggling with foreigners buying plots of land through shell companies and the like, and it's going to be a similar problem here. So we'll continue to allow foreigners as well as private citizens and companies to buy land, but they must either make use of it personally, or make an active income on operations on the land.
If you have plans to retire on the land you've bought, that land is not eligible for EWC. If you build a house and AirBnB it, that land is STILL not eligible for EWC.
Here in Jeffreys Bay, apparently all of the plots under R500k have been bought up since the start of 2020, and many of them are still overgrown and unused.
I'm confused now why did the EFF object to the bill weren't they pushing for it, and then the ANC stole the idea from them?
Because they made a valid point about the bill not addressing issues that currently affect the market and landowners.
Earlier, the EFF criticised the bill for limiting land redistribution, and leaving land mostly in current ownership hands, unless the state was prepared to pay market-related prices.
“Do natives want land that is not used for productive purposes? Do they want state-owned land? Why is the ANC playing with people’s emotions?” asked EFF MP Mathapelo Siwisa. “We reject this bill and call on our supporters to see the ANC for what it is, a staunch defender of white landowners.”
A few years back a draft EWC bill had a suggested clause that the state could yeet valuations out the window and not have to deal with the willing-buyer-willing-seller principle. They would have been allowed to low-ball your offer with a take-it-or-leave-it offer. You either took the money and handed it over, or they would EWC it and you'd get nothing.
That clause wasn't going to pass constitutional muster, but there is a problem where government wants to buy land earmarked for redress, but the current landowner sets the price equal to or higher than the market value. The ANC government currently sits with over 1000 farms that it actually owns, but they overpaid for the land and much of it is not suitable for growing most crops or really living on it (multiple reasons for that, but mostly water issues and lack of infrastructure).
According to the Department of Agriculture, Land Reform and Rural Development, there are many examples where a land reform claim was valid, but the process was deadlocked because the owner wasn't going to accept the offer made to them. So they paid out the claimants instead.
And most farmable land is in private hands already. Like, yay, the government EWC'd some land and gave it to you. It's a rocky outcrop in the Karoo with a nest of Red Romans nearby and you can build ****-all there. But you own it now, so win-win?