GNU reaction for property sector – Yael Geffen | Everything Property

GNU reaction for property sector – Yael Geffen

Lew Geffen Sotheby’s International Realty CEO Yael Geffen

Yael Geffen’s view of SA’s new GNU is that it will will buoy international investor confidence and boost the property market in the mid-term.

Lew Geffen Sotheby’s International Realty CEO, Yael Geffen, offers her comment on South Africa’s GNU (Government of National Unity) agreement signed in June, 2024.


Geffen says the African National Congress (ANC) signing a GNU deal with the Democratic Alliance-dominated coalition is “the most selfless and mature decision” the party has made since Jacob Zuma was sworn in as President on 9 May, 2009.

“To mangle Neil Amstrong’s famous words when he stepped onto the moon, this was ‘one small step for South Africans’, but we need to keep the celebration in proportion because our giant leap will be when we start seeing real economic growth; a real economic turnaround.

Real prospect of prosperity

“The good news is that as a people, as a nation, we can now look to a future that contains a real prospect of prosperity for everyone, rather than just the few that we have seen since mid-2009.

“The pillaging of our state assets will take time to die, but the checks and balances that should have been in place years ago, will start being enforced, and the culture of corruption will wither in the years to come. That gives us as a country and an economy a chance to grow and prosper.”

Geffen says this news will undoubtedly buoy international investor confidence in the future of South Africa, and in turn boost the property market in the mid-term.

“The outlook is certainly more positive than it was a month ago.”

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