Standard to boost black farmers

Cape Town - Standard Bank has set up a R500m economic empowerment fund for emerging black farmers.

The bank is also involved in the establishment of a centre for agri-business leadership and mentorship development at the Faculty for Agricultural Sciences at the University of Stellenbosch.

The fund will offer emerging farmers the opportunity to finance production and reduce price risks.

Standard Bank's director for agriculture, Willie du Plessis, says it's one thing to receive ownership of land, but an entirely different matter to work it.

The fund will in a sustainable way connect agricultural enterprises with agricultural reform projects and those who will benefit from them.

Du Plessis says a management company accredited for black economic empowerment and involved in agri-business will supply support services, facilitate and obtain finance and provide technical and procurement assistance.

- Sake24.com
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