At times of economic difficulty, such as these, people tend to focus on the basics. That means the fundamentals of modern life; food, warmth and shelter.
From the Beefcor feedlot, we have the capacity to produce about 600 tons of meat per week, or enough to feed about 1,7 million people over the course of a year at an average per capita consumption of 18kg p.a., which is a significant contribution to the beef industry. The country has an almost insatiable demand for maize and wheat, but it falls to the nation’s farmers and its financial institutions to ensure that these crops can be grown.Enhancing South Africa’s ability to feed itself, and unlocking more of our agricultural potential will require ongoing development of solutions from the financial sector, as well as real support from government.
As land reform continues, there is also a need for support beyond land finance – training, equipment, fertiliser and extension funding are also crucial. This type of financial innovation is important and it must continue, as climate change affects weather patterns and places ever-great pressure on the sector.