twitter RSS Feed linkedin acp contact

South Africa amends Agri-BEE sector code to boost the country’s agri-business

Dr Rob Davies, minister of trade and industry in South Africa, has gazetted the amended AgriBEE sector code for implementation by entities in both public and private sector, aiming to transform the agriculture sector in the country

SA codeThe amended AgriBEE sector code aims to enhance the agri-business sector in the country. (Image source: Max Barattini/Adobe Stock)

The new code replaces the old AgriBEE sector code which was gazetted in December 2012.

Commenting that agriculture is the bedrock of a country’s economy and an important contributor to its development, Davis said, “This is evident by the latest Q3 2017 statistics on GDP which shows that agriculture production has risen by 44.2 per cent and was the main driver of the two per cent GDP growth of the third quarter.”

The scope of application of the amended AgriBEE sector code includes:

· The primary production of agricultural products.

· The provision of inputs and services to enterprises engaged in the production of agricultural products.

· The beneficiation of agricultural products whether of a primary or semi-beneficiated form.

· The storage, distribution, and trading and allied activities related to non-beneficiated agricultural products.

“One of the major highlights of the Amended AgriBEE sector code is an increase of the target for supplier development to three per cent of Net Profit After Tax (NPAT). The aim is to create a pipeline of black suppliers and black industrialists within the value chain of the South African agricultural industry,” he further indicated.

In addition to strengthening the drive towards creating black suppliers, black commercial farmers and black industrialists, enhanced recognition has been given to initiatives that result in Greenfield ventures, job creation and beneficiation of primary products, support for land reform projects and support for localisation of goods and services not being produced in SA currently, the minister added.

Furthermore, the sector code also make a provision for the current owners of land to transfer at least 30 per cent of productive agricultural land to black people under the ownership element. The 30 per cent land ownership target is not static and therefore it shall be reviewed from time to time, the minister added.


LATEST NEWS IN Agriculture

Gambia-Korea partnership seeks to double rice production to curb food insecurity

Gambia-Korea partnership seeks to double…

President Adama Barrow has received a delegation led by the Korean Ambassador to The Gambia, HE Kim Ji-Joon, at the State House in Banjul to announce the delivery of sample rice...

World Sustainability Organization chooses Zambia as the first African Sustainability Hub

World Sustainability Organization choose…

The World Sustainability Organization and Foundation (WSO&F) has signed a Memorandum of Understanding (MoU) with the Zambian Government, to make Zambia the African Sustainability Hub 

Rallying call to improve African and global cotton production

Rallying call to improve African and glo…

As the business of cotton production continues to attract global attention, there are concerns about how sustainable the practice of growing, harvesting, and production will be, especially for lower income...

Research and farming institution from Zimbabwe wins FAO Award

Research and farming institution from Zi…

The Food and Agriculture Organization of the United Nations (FAO) honoured three research and farming institutions, one of which was from Zimbabwe

Building community and ecological resilience through forest landscape restoration

Building community and ecological resili…

The Atebubu and Wiase Forest Landscape Restoration (FLR) Living Lab is offering a more resilient food system, greater income and the opportunity to restore nature to farmers living in the...

European Investment Bank to support increased rice production in Liberia

European Investment Bank to support incr…

The European Investment Bank is planning to support large-scale investment to increase rice production and enhance food security in Liberia

Prev Next

OTHER RELATED ARTICLES - Agriculture

Hershey ‘to invest US$10mn’ in Côte d'Ivoire

Hershey ‘to invest US$10mn’ in Côte d'Iv…

The Hershey Company says it will invest US$10mn in Côte d'Ivoire to reduce child labour and improve the cocoa supply in the West African nation

Portugal expresses Zambia maize interest

Portugal expresses Zambia maize interest

Portugal has expressed interest to make a trade deal with Zambia for maize imports

Kenyan goverment reduces fertiliser prices

Kenyan goverment reduces fertiliser pric…

The Kenyan government has reduced the prices of fertiliser by 25 per cent to increase usage as the planting season approaches

FAO and NEPAD to boost youth employment in Africa

FAO and NEPAD to boost youth employment …

FAO and New Partnership for Africa’s Development (NEPAD) have launched a US$4mn project that aims to create employment opportunities through sustainable agriculture and agribusiness for African youth

AfDB collaborates with GEF to promote sustainable agro- and forest ecosystems

AfDB collaborates with GEF to promote su…

The Global Environment Facility (GEF) has approved a total funding of US$11.2mn for two projects co-financed with the African Development Bank (AfDB) at the 52nd Global Environment Facility (GEF) Council...

UN urges La Niña preparedness in Africa

UN urges La Niña preparedness in Africa

More than 60mn people have been affected by El Niño and many more are highly vulnerable to La Niña's likely knock-on effect, a meeting of UN agencies at the FAO...

AGCO educates farmers in crop yield-boosting agronomy practices in Zambia

AGCO educates farmers in crop yield-boos…

AGCO, Your Agriculture Company welcomed commercial and emerging farmers to its Zambia Crop Tour focused on educating growers to enhance crop yield through improved agronomy practices

US$10.2mn project to boost Benin’s exports of organic cashew nuts

US$10.2mn project to boost Benin’s expor…

The United States Agency for International Development (USAID)-funded Trade Hub has launched a US$10.2mn co-investment partnership with Tolaro Global, to strengthen Benin’s certified organic cashew nut market and help meet...

AfDB approves US$150mn to support trade and agriculture value-chain development

AfDB approves US$150mn to support trade …

The African Development Bank (AfDB) has approved a US$150mn facility to ETC Group Limited to manage the company’s working capital requirements and support its food production expansion plans across 10...

Dahabshiil invests in agriculture and emergency power start-ups

Dahabshiil invests in agriculture and em…

Dahabshiil has provided seed capital to two innovative start-ups founded by young entrepreneurs in Uganda as part of a programme co-sponsored by the US Embassy in Kampala

TİKA supports female producers from Nigeria

TİKA supports female producers from Nige…

Turkish Cooperation and Coordination Agency (TİKA) provided booths and equipment to the Nigerian Confederation of Female Producers, which represented Niger at the 12th edition of SAFEM, held by the Agency...

Boosting farm productivity is crucial to unlocking Ethiopia’s agricultural potential

Boosting farm productivity is crucial to…

Ethiopia’s agricultural sector is the bedrock of the economy, employing more than 70 per cent of the workforce, accounting for more than a third of GDP and serving as the...

Prev Next