Julius Malema, the enfant terrible of South African politics, feels he’s got President Cyril Ramaphosa just where he wants him.

Since his expulsion from the ruling African National Congress five years ago, Malema, 37, and the Economic Freedom Fighters (EFF) have targeted setting the national agenda before next year’s elections. The party has been key in pushing the ANC into a forceful stance in support of expropriation of land without compensation and free university education. Now it’s demanding that the ANC fulfill a pledge it made eight months ago to nationalise the Reserve Bank.

Ramaphosa last month announced plans to amend the constitution to allow the state to take land without paying for it to address skewed ownership patterns that date back to apartheid and colonial rule. The prospect of property rights being eroded has spooked investors, who the president is trying to persuade to pour $100 billion into the country to spur growth.

“The EFF is in charge — the ANC is following us,” Malema said. “Through their land announcement, they had to look for something that changed the narrative. That’s why they came out as desperately like they did.”

Land Redistribution

ANC Chairman Gwede Mantashe has suggested that land ownership should be limited to 12,000 hectares per farm owner and white farmers who hold more than that should cede the rest to the state for redistribution.