South Africa
R1 billion fund to assist black farmers─── 05:24 Fri, 19 Mar 2021
The government has announced the establishment of a R1 billion fund to help small-scale black farmers enter commercial agricultural production.
The Department of Agriculture will provide money and it will be run by the Industrial Development Corporation.
The IDC will also contribute in the form of loans. The fund will have an initial duration of 10 years, Bloomberg reports.
The fund will, to some extent, fill the void left by the Land & Agricultural Development Bank of South Africa, which has defaulted on its debt and is struggling to provide fresh finance for farmers.
Moneyweb
