SOUTH AFRICA – Nedbank Group, a financial services group in South Africa has partnered with South African Partners in Agri Land Solutions (SA PALS), to facilitate transformation in the agricultural sector through a funding programme in enterprise development.
The initiative is also set to provide training, mentorships, specialist advisory support and capacity building for farmers throughout the industry.
SA PALS is a non-profit organisation developed by farmers in cooperation with local communities and represents a fundamental departure from post-land reform models by building sustainable agriculture practices and approaches through sound business principles, legal structures, and training.
The goal is to provide emerging black farmers with the support, insights, and expertise they need to thrive as commercial farmers.
Cobus de Bruyn, Head of Agriculture CVP, Nedbank said, ”Partnering with SA PALS to further their work within the agricultural sector is an essential part of Nedbank’s strategy to drive transformation and change.
“Included in our client value proposition is an innovative all-inclusive solution for all commercial farmers, black or white. This initiative is designed to give transformation the impetus it requires.
“Considering how agriculture remains a crucial part of the South African economy, it makes sense to play a leading role in furthering this positivity and supporting the agricultural sector. We call on all stakeholders to follow.”
South Africa’s agricultural sector is one of the world’s most diverse, consisting of corporate and private intensive and extensive crop farming systems, including vegetable, fruit, nuts, and grain production.
The well-developed commercial farming sector in the country is the backbone to its agricultural economy and in 2020 showed the best growth rate of all economic sectors, coming in at 13.1 percent.
”Nedbank’s stand is themed “The Future of Agriculture is already here”, and this partnership completely captures this ethos.
“We want to create a space where farmers can explore their potential, extend their talent and grow their skills, and SA PALS was the ideal platform to achieve these goals,” said John Hudson, National Head for Agriculture Commercial Banking, Nedbank.
Nedbank Commercial Banking has significant financial expertise and offers the sector relevant support and insight into contemporary issues facing farmers.
In addition, to cement its focus on the future of agriculture, the Nedbank seeks to focus on climate resilience, climate change, digital and e-commerce solutions, business growth and transformation.