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“The challenges facing emerging farmers can be mainly attributed to the gap in agricultural funding caused by rapid regulatory and market changes over the past two decades,” the Land Bank said in a statement.

The loan includes a two-year grace period on repayment.

“Borrowing in [the] agricultural sector requires a grace period... until the project or farm starts generating cash flow to service the debt and to this end the emerging farmers will benefit from the two-year grace period,” CEO Phakamani Hadebe said.

“Since this bond is priced competitively, the commercial farmers also stand to benefit and ultimately it is the South African consumers who will benefit.” 

The loan would be repaid over 15 years.

He said the bank aimed to balance its development mandate and the business imperative of running a sustainable agricultural finance institution.

“The facility therefore goes a long way in mitigating risks associated with financing few farmers,” Hadebe said.

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Sun May 26 09:38:18 SAST 2013 ::

Jul 5, 2012

WakeUpSouthAfrica

Yeah, pity emerging farmers wount get any of the money. Its going straight into some ANC top dawgs bank account.
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Jul 5, 2012

MommaC

Good initiative .... BUT it needs to include assistance in the form of mentorships. Farming is a damn difficult job and you have to know what you are doing.
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Jul 5, 2012

CheeseBoy

These are the sort of articles that give me hope. As long as the money goes to the right people (I know I am asking for too much ) and measures are put in place that it is put to good use then we are on the right track.

A nation that cannot feed itself and take care of its farming community will face difficulties.
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Jul 5, 2012

malemaforpresident

money for relatives,friends,crooks and girlfriends nxaaa
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Jul 5, 2012

MicaParis

We congratulate the brilliant initiative as such demand every slice of the cheese to be shared equally among our poor and marginalized citizens, no relative and politically corrupt contaminated ANC cadres this time! This is a good initiative for economic growth and development, big up!
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Jul 5, 2012

BokFan

Yebo yes. This is ayoba indeed. now lets also make sure that the landbank ceo does not use the cash to finance any more golf estates and free loans (i.e. gifts) to his political chommies.

Personally I cant wait to taste my first piece of Redistribution Wors
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Jul 5, 2012

BokFan

Geeeez okes it doesnt look like like the land question is a big issue here in Sowetoville. This story has been up for three hours and only 6 comments.


Could it possibly be that there aren't that many wannabe farmers in our readership. ????

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Jul 5, 2012

mbondo

@BokFan
There are wannabe farmers here but not in Soweto , rural people are good candidates for this kind of thing because farming is not for sissis. These concrete jungle rats(Sowetans) cannot even plant grass, let alone cutting it .
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Jul 5, 2012

MommaC

BokFan

The likes of young DJ want the land - they just don't want to get off their flabby bottoms and work it. Most of those shouting loudest wouldn't have a clue how to start if they got a farm
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Jul 5, 2012

BokFan

Mbondo

Hey bru take it easy on my homeys. They dont plant grass or cut it. But smoke? Thats another story. LOL
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