Fooling No One

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We all saw how the land reform worked in Zimbabwe and the same will end up happening in South Africa. Zimbabwe/Rhodesia was known as the bread basket of Africa and now they are a basket case themselves offering nothing and importing the majority of food required.

In South Africa we have seen how land reform doesn't work as the people are given the land of productive farms and within a matter of years is totally destroyed.

The first example is the Zebediela Citrus Farm which between 1918 and 1927 had nearly 600 000 orange tress planted. The then white Government took it over in 1974 and was the biggest Citrus farm in the world harvesting in excess of 400 million oranges each year.

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Fast forward to 2001 and the harvest then was worth R30 million per annum and now that profit is no longer. With the land reform that took place the estate was split up amongst the communities and instead of continuing what had been given to them they stripped the farm of any value. At the height of the operation this Citrus estate employed over 3000 people and last weekend the final 200 have now left with nothing. There are no trees left as they have been used for fire wood.

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The person in charge is a lawyer from apolitical party who has reportedly embezzled R48 million which is kind of a common story in these parts. The work required to get the estate back up and running planting the 600 000 trees would take decades if at all possible. Imagine how lucky anyone would be to be given a prosperous business and let that opportunity slide into nothing.

Other examples are the Lisbon Citrus estate known for it's Mangoes also long gone with nothing left. Most of these farms had received donated farming equipment from the EU with no excuses for failure. When you spend 95% on wages and 5% on running costs what does one expect? Mismanagement, greed is the reason for these massive failures. The Gillemsberg Citrus and Cattle Boerdery now also in debt and is basically left abandoned. This was a 25000 hectare pig farm which if you eat the pigs too quickly will have nothing left as you are meant to let them breed first.

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It is not a shocker to see South Africa at the top of the World unemployment lists as business is being strangled slowly due to an inept Government looking to plunder instead of govern.

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These figures do not realistically reflect the job market here currently as we have so many foreign nationals also unemployed with no papers due to the open border policy. Probably a hint at why the serious crime rates are slowly on the increase and is a major concern for any investors looking to invest.

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R51 billion is the equivalent of $3 billion that is unaccounted for over and above the accounted for corruption. This works out to $8.219 million every single day disappearing into the politicians pockets. This is why the country is not investable as they people leading are not serious about change. There is a serious lack of money in the economy and I noticed this about 6 -8 years ago as the average person in the street is suffering. The money should be flowing freely feeding the economy and that is not happening and hasn't for some time. South Africa is turning into another Zimbabwe just on a far bigger scale.

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