Picture: 123RF/LOES KIEBOOM
Picture: 123RF/LOES KIEBOOM

The government will allocate close to R4bn to the Land Bank over the medium term to support black commercial farmers, President Cyril Ramaphosa says.

In the stimulus and recovery package announced in 2018, the government promised to prioritise funding for emerging farmers.

The government is also looking to increase the number of black commercial farmers to ensure ownership and control of the agricultural value chain by previously disadvantaged groups.

In many instances, black farmers struggle to get access to markets, finance and technical support to link them with integrated value chains.

In his state of the nation address (Sona) on Thursday night, Ramaphosa said over the medium-term budget period, R3.9bn had been allocated to the Land Bank to support black commercial farmers.

Ramaphosa also said the government would substantially expand the agriculture and agro-processing sector by supporting key value chains and products, developing new markets and reducing reliance on agricultural imports.

phakathib@businesslive.co.za

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