The medium-term budget statement did little to inspire business confidence, said John Purchase, CEO of SA’s agricultural business chamber Agbiz. Reacting to Finance Minister Malusi Gigaba’s speech on Wednesday, Purchase said Gigaba’s reference to the contested Regulation of Agricultural Land Holdings Bill as part of the government’s Inclusive Growth Action Plan did not allay fears arising from policy uncertainty in the farming sector. Agribusinesses remain concerned the bill will not achieve the accelerated land redistribution and inclusive growth the country needs. In his statement, Gigaba said only that stakeholders were being consulted about the bill. The bill provides for the establishment of a land commission to be appointed by the rural development and land reform minister. This commission is to establish a register of public and private agricultural land ownership. Agricultural landowners will be obliged to lodge a notification of ownership with the commission to include the ...
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