Agri SA excited by R4.4bn Land Bank allocation

Agri SA has expressed its elation following this week's medium-term budget policy statement announcing R4.4bn will be allocated to the Land Bank to support emerging farmers.

“The mention of the private sector’s coordinated efforts with government in unlocking financing for transformation shows that momentum is building,” said Pietman Roos, Agri SA head of corporate affairs and communication. “The next step is to iron out details on how to unlock these synergies.”

Agri SA has been in discussion with various stakeholders including government, developmental finance institutions (DFIs) both local and international, commercial banks and private equity funds (PE) among others, to see how the different role players can work together. One of the central ideas that emerged in these discussions was a collaborative Agricultural Development Fund (ADF). The R4.4bn announcement in the MTBPS is a step towards realising this grand vision.

“The ultimate aim is to drive sustainable, and importantly speedy, agrarian reform,” says Roos. “Collaboration with the private sector will be necessary for success.”