Gauteng farmers need to look further afield for funding
Agriculture MEC says Land Bank can’t do it alone
04 November 2024 - 05:00
Gauteng MEC for agriculture & rural development Vuyiswa Ramokgopa says there is a need for additional channels of low-cost capital for small-scale farmers as Land Bank’s financial challenges constrain its ability to provide adequate agricultural financing.
The state-owned lender used to account for almost 30% of agricultural financing in SA before its default. In September it announced that it reached an agreement with lenders that would cure the bank’s default on R40bn of its debt. Its default on certain payment obligations triggered a cross-default on most of its debt. ..
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