NERPO welcomes a R 3 billion lifeline from the Minister of Finance during the 2020 emergency budget
The National Emergent Redmeat Producers Organisation (NERPO) has welcomed the R3 billion lifeline from the Minister of Finance, Mr Tito Mboweni and describe it as a step in the right direction.
NERPO was responding to the Minister’s Mboweni supplementary budget speech yesterday, where the minister further acknowledged that the Land Bank is too big to fail, as it provides 28% of South African’s agricultural debt.
Mr Aggrey Mahanjana, the Group Managing Director of NERPO, believes that this is a demonstration of a political will from the government to ensure there is food security, adding that, “after all, NERPO has been very consistent in calling for the government to rescue the Land Bank, precisely because it is important tool for the farmers in South Africa.
“For the fact that the Land Bank is the only state-owned entities in South Africa getting an in-year spending adjustment from treasury is a demonstration of total commitment from the government and as NERPO we fully support it. We further wish to reiterate that money alone is not entirely the solution. The Land Bank need to come to the party and ensure that it implement the turnaround strategy that will remain bias towards the smallholder farmer in South Africa,” he concluded.
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For more information, please contact:
Congress Mahlangu @083 245 2294 or
Mr Aggrey MahanjanaManaging Director: NERPO- 0825567297
