SA banks pledge billions for land reform

Pretoria – The Department of Rural Development and Land Reform says the Banking Association of South Africa’s pledge of R1 billion per annum is to support the land reform programme of the department and not agri-parks.

“Rural Development and Land Reform Minister Gugile Nkwinti would like to clarify that the in-principle commitment of R1 billion per annum for the next 15 years from the Banking Association of South Africa (BASA) is to support the land reform programme of the department, not the agri-parks initiative as has been reported in the media.

“The Minister says he has noted the inaccurate media reports following his announcement of the pledge by BASA at the Economic Sectors, Employment and Infrastructure Development Cluster media briefing in Cape Town on Wednesday, 28 October,” said the department.

It said the Minister was pleased with BASA’s support and remained confident of a “strong and lasting” partnership that will benefit and advance the land reform programme in South Africa well into the future.

The department said, however, that government has allocated R2 billion for the agri-parks programme for the 2014/15 financial year and that this should not be confused with the in-principle commitment by BASA.

– SAnews.gov.za