Housing in Southern Africa November 2015

Housing

Banks to invest billions in Agri-parks

R ural Development and Land Reform Minister, Gugile Nk- winti, says that the Banking Association of South Africa is to invest R1 billion every year in agri-parks to revive rural economies. This followed the Minister’s an- nouncement at the Economic Sec- tors, Employment and Infrastructure Development Cluster that govern- ment would contribute R2 billion to support rural economies and create industries in those areas. “The Banking Association of South Africa (BASA) will invest over the next 15 years, starting this year with R1 billion every year in land reform initiatives. This is encouraging andwe are working with them in developing amodel for agri-parks,” said Nkwinti. The Minister said the involvement of the banking sector will further give credibility to the agri-parks project as government aims to ensure that poor peoplework closer towhere they live, instead of migrating to bigger cities in search of economic opportunities.

Over the next 10 years, the country will have a very different rural com- munity, one which will stimulate economic growth, enterprises and industries. He added, “It also provides us with the opportunity to invest in the underdeveloped side of the economy. We want to spend more money in

44 rural districts, so that we can transform the economy in those areas, because it will provide job opportunities.” A total of 12 221 smallholder producers were supported through advisory services, training, technical support and infrastructure fromApril June 2015. ■

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