https://www.polity.org.za
Deepening Democracy through Access to Information
Home / Statements RSS ← Back
Financial|SECURITY|Service
Financial|SECURITY|Service
financial|security|service
Close

Email this article

separate emails by commas, maximum limit of 4 addresses

Sponsored by

Close

Article Enquiry

Treasury’s support to Land Bank is a food imperative

Close

Embed Video

Treasury’s support to Land Bank is a food imperative

Treasury’s support to Land Bank is a food imperative
Photo by Bloomberg

21st October 2020

ARTICLE ENQUIRY      SAVE THIS ARTICLE      EMAIL THIS ARTICLE

Font size: -+

/ MEDIA STATEMENT / The content on this page is not written by Polity.org.za, but is supplied by third parties. This content does not constitute news reporting by Polity.org.za.

Agri SA calls on National Treasury to urgently consider supporting the Land Bank’s request of R18 billion over 5 years in order to ensure the bank’s sustainability.

Over the last few months, Agri SA has come to learn of the increasing liquidity constraints of the Land Bank resulting in the risk of inability to support the agricultural sector.

Advertisement

“Currently, the Land Bank finances 29% of the agricultural debt, making it a critical contributor to food security,” said Christo van der Rheede, executive director of Agri SA.

Since April 2020, the bank cannot service its debtors, placing the going concern status of the Land Bank at risk. Currently, no new clients are being considered and clients are encouraged to seek financing from other financial institutions. Moreover, the critical development role that the Land Bank needs to fulfil, is compromised.

Advertisement

“As an institution, it is an important vehicle to finance new entrants into the sector, said Kulani Siweya, agricultural economist at Agri SA.

According to the presentation by the Land Bank to the Parliamentary Select Committee on Finance, the Land Bank ’s funders have indicated that there will only recommit funding on the back of state guarantees.

Agri SA encourages the agricultural community to step into conversation with the Land Bank on the status of their facilities.

Issued by Agri SA

EMAIL THIS ARTICLE      SAVE THIS ARTICLE ARTICLE ENQUIRY

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here

Comment Guidelines

 

About

Polity.org.za is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Polity.org.za is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now