Billionaire Patrice Motsepe reveals plan for multibillion-rand fund for black farmers

Patrice Motsepe. Image credit: Flickr/GovernmentZA

Billionaire businessman Patrice Motsepte has revealed that plans are underway to establish a multibillion-rand fund for black farmers, Food for Mzansi reports.

Motsepe made the revelation while addressing an African Farmers Association of SA (Afasa) agribusiness transformation conference in Bloemfontein over the weekend.

He said this plan involves the Motsepe Foundation, major banks, and agribusiness stakeholders.

Access to funding

“The involvement and participation of black people is important. There is a huge sense of urgency to make sure we have sustainable black farmers in the industry,” he said.

Motsepe, who is among South Africa’s richest businessmen, said the fund would tackle the challenge of access to funding that black farmers face.

He emphasised the need for partnerships between government and the private sector, adding that the blame shouldn’t be on government alone.

Youth and women should not be left out of these partnerships and funding initiatives, he added.

Motsepe and agribusiness

Motsepe, who is the chairman of African Rainbow Minerals, has a long history of active involvement in the agribusiness sector.

In October 2018, he participated in AgriSA’s annual congress where he stressed that the fortunes of both white and black farmers are linked.

He similarly spoke of the need for black farmers to “benefit from the agriculture industry.”

“This country has no future if we fail to create a future of inclusivity for those who are marginalised and unemployed,” he stated.

In December 2018, Motsepe also announced that his foundation will donate R3.5 billion to help drive South Africa’s land reform process forward.

He made this announcement at the Global Citizen Festival in honour of the late President Nelson Mandela.

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