In her foreword to Land Bank's annual report for 2004/5, published this week, the Minister points out that the Bank concluded BEE deals to the value of almost R1-billion during the past financial year.

"Prominent among these were the R501-million Land Bank advanced to Afgri-Sizwe for the purchase of a 26.70/o stake in Afgri Operations and the R485-m which Ushukela Milling used to buy a sugar mill in Kwazulu Natal," the Minister said.

"Black economic empowerment in agriculture is a key policy. Land Bank will continue to engage, inform and support implementation of the Agri-BEE framework within the context of broad-based black economic empowerment."

She added: "Land Bank will continue to provide the financial backbone for development through agriculture. It is in this role that the Government has included Land Bank in new initiatives aimed at addressing the challenges faced by developing farmers."

She said the bank will play a central role in rolling out government's new Micro Agricultural Finance of South Africa scheme (Mafisa).

"Land Bank is also set to play a primary role in the distribution of funds allocated to the Comprehensive Agricultural Support Programme (GASP) and streamlining the provision of services to GASP beneficiaries," she said.

The Minister highlighted several other Land Bank activities which have created "an enabling environment for the empowerment of the historically disadvantaged". These include making available agricultural land that reverts to the state through foreclosure of indebted farmers, supporting the annual Female Farmer of the Year competition, investing in human resource and skills development, working towards the development of enterprise ownership models in support of Agri-BEE and implementing targeted procurement policies to realize

BEE.

Going forward, the Minister highlighted the specific challenges facing the Land Bank, including the importance of improving access for agricultural entrepreneurs and ensuring it can offer excellent and cost-effective services to all its clients.

"The Bank also has to maintain sound financial performance and credit rating -balancing outreach and quality service with the imperatives of sustainability," she said.

Queries: Herman Moeketsi

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