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Agri SA welcomes R7 billion funding for Land Bank

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Agri SA, in a recent interview, welcomed the R7 billion funding granted to the Land Bank, and also highlighted the importance of ensuring food security.

Agri SA took to Twitter on Sunday, 8 November 2020, to welcome the decision by the state to grant additional funding to the Land Bank. The bank, which is integral in the agricultural sector’s activity for both public and private enterprises, is set to receive R7 billion funding. This was announced during the Minister of Finance, Tito Mboweni’s Medium-Term Budget Policy Statement (MTBPS).

In expressing the importance of the funding, Agri SA’s Executive Director, Christo van der Rheede stated, “The Land Bank contributes to localisation and, on the other hand, commercialisation and ensuring that both commercial farmers and emerging farmers are assisted. The Land Bank will continue to be dependent on the state from time to time.”

He then highlighted the importance of the Land Bank. Despite many sectors experiencing a sharp economic downturn during the lockdown, the agricultural sector continued contributing to the economy, which is why it needs a body like the Land Bank.

See the post below.

Sabelo Makhubo
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