More money for the Land Bank
Farmer's Weekly|November 13, 2020
Minister of Finance, Tito Mboweni, announced in his Medium-Term Budget Policy Statement that despite serious efforts to curb government spending over the next three to five years, the Land Bank would be allocated another R7 billion to finance its restructuring plans. Denene Erasmus reports.
Denene Erasmus

Reflecting on the impact that the COVID-19 pandemic and related lockdown has had on the South African economy, Finance Minister Tito Mboweni said the recent economic decline and job losses, in conjunction with the country’s “recent fiscal weakness” should not be allowed to “turn into a sovereign debt crisis”.

He was speaking during the tabling of the Medium-Term Budget Policy Statement in Parliament at the end of October.

According to Mboweni, the economy was expected to contract by 7,8% this year, and the 2021 outlook was even more uncertain due to the pandemic, which had “led to a steep economic decline and accelerated the deterioration of the public finances”. National Treasury did, however, predict a return to real GDP growth of 3,3% in 2021, and an average growth rate of 2,1% per year over the three-year forecast period up to 2023/2024, but added that a second wave of COVID-19 infections, accompanied by new restrictions on economic activity, would have significant implications for the outlook.

Land Bank

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM FARMER'S WEEKLYView All

Planning and timing: crucial success factors in cattle production

Lerato Senakhomo, the 2020 Agricultural Research Council's National Emerging Beef Farmer of the Year, runs her Nguni herd in a semi-intensive feeding system. She believes the keys to successful cattle production are proper planning and good time management. Siyanda Sishuba visited her farm in Gauteng.

4 mins read
Farmer's Weekly
February 19, 2021

Breakthrough ahead for SA honey industry

A group of South African beekeepers travelled to Australia during the first All-Australia Bee Congress and returned with a recommendations for improving South Africa’s local bee industry.

2 mins read
Farmer's Weekly
February 19, 2021

High-productivity hay and forage equipment

For most South African farmers, hay-making may not necessarily be crucial to their businesses. However, it still contributes to the revenue stream through direct sales or as a feed cost for a livestock unit. Stehan Cloete discusses ways to ensure quality feed and low production costs.

3 mins read
Farmer's Weekly
February 19, 2021

Tackling climate change and biodiversity loss

Climate change is inextricably linked to the accelerating destruction of nature. This report discusses how natural climate solutions, which include land management programmes that increase carbon dioxide storage and reduce carbon emissions, can help tackle both problems simultaneously.

4 mins read
Farmer's Weekly
February 19, 2021

NUTS: Growing cashews: Part 3

The final instalment of this series discusses cashew production from flowering to harvesting and oil extraction. The challenging process of shelling is carried out either by hand or mechanically in factories.

4 mins read
Farmer's Weekly
February 19, 2021

Carmingo apricots breathe new life into Koo Valley

The arrival of Carmingo apricot varieties enables producers to generate up to three times more income per season than with traditional varieties. Glenneis Kriel spoke to Pierre Burger and Sam Sieberhagen, two successful farmers in the Western Cape.

8 mins read
Farmer's Weekly
February 19, 2021

Succession planning: the time to talk is now

In this first article in a new series on how to run a family farm successfully, Trevor Dickinson, CEO of specialist consultancy Family Legacies, writes that the key to a profitable, long-lasting business is to start a family conversation about succession planning. And this needs to happen sooner rather than later.

4 mins read
Farmer's Weekly
February 19, 2021

Boom or bust for expanding orchards?

With prices remaining high, the citrus, avocado and macadamia industries have boomed in recent years and producers have continued expanding. This has left many wondering whether the situation is too good to be true and whether the bubble might be due to burst. Lindi Botha spoke to a number of industry experts.

6 mins read
Farmer's Weekly
February 19, 2021

The essentials of pruning

The pruning of fruit trees is a simple form of tree manipulation, yet many farmers overcomplicate the practice. Horticultural consultant Dr Nigel Cook explains to Glenneis Kriel how to maximise the value of pruning.

4 mins read
Farmer's Weekly
February 19, 2021

Adapting technology to tackle stock theft and other farm crimes

Property theft on South Africa's farms ranges from the petty and opportunistic all the way to well-planned, syndicate-led invasions, and profoundly affects incomes, production and the well-being of rural communities. but farmers and security experts are not taking this scourge lying down. Lloyd Phillips reports on how remote digital technology is being adapted to create practical, and highly effective, solutions.

7 mins read
Farmer's Weekly
February 19, 2021