• Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

  • To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

  • Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

All data is delayed
See More

Bailout for struggling farmers

Nov 18 2010 14:53
Durban - The KwaZulu-Natal government is to spend R100m to bail out struggling black farmers who received farms through the land reform programme in the province.

The department has formed the Agri Business Development Agency, which aims to help struggling farmers move out of their financial doldrums.

It was unveiled in Vryheid on Thursday.

Economic development MEC Mike Mabuyakhulu said the agency was formed after it was discovered that most of the farms which were transferred to communities were "battling to keep afloat".

He said the agency, which comprised farming experts, was a partnership between the departments of economic development and agriculture, and environmental affairs and rural development.

"Since 1994 vast expanses of land worth more than R3bn has been handed over to African communities in the province as part of the land redistribution and restitution programme," he said.

The provincial department of economic development would also inject R27m to rescue 87 farms.

"The agency will assist the struggling farms to access finance," said Mabuyakhulu.

It would also help them to access markets, he said.

"Our intention is to ensure that these struggling farms are able to hold their own. But this support will not be given in perpetuity," he said.

Already there were agreements with the Sugar Cane Millers, the Citrus Growers Association of South Africa, Forestry South Africa, the National Youth Empowerment Agency, the DTI Business Incubator
Programme, Ithala Bank and the Development Bank of Southern Africa.

farmers  |  land


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote