A new funding scheme aimed at small- and medium-scale farmers has been launched in South Africa.

According to Bizcommunity, the blended finance scheme is a joint initiative of the Land Bank and the Department of Agriculture, Land Reform and Rural Development, and is worth ZAR3.2 billion over 10 years.

The blended scheme will be made up of grants and loans, with the department and bank each investing ZAR325 million a year.

The scheme is targeted at black-owned and -managed farms with a special emphasis on youth (40%) and women (50%). Its goal is to enable them to participate fully in the mainstream agriculture market.

The funds will be disbursed through the Land Bank with the department playing an oversight role.

1 November 2022
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