To address funding challenges in the Northern Cape, the MEC of agriculture, land reform and environment, Mase Manopole, addressed over 600 farmers with a key focus on unlocking financial opportunities through blended finance.
Manopole hosted the Northern Cape Blended Finance Roadshow at Flamingo View in Kimberley in collaboration with the national department of agriculture. They were joined by Land Bank, Industrial Development Corporation (IDC), and the Development Bank of Southern Africa (DBSA), under the theme “Unlocking inclusive agricultural development in the Northern Cape.”
According to the department, the event provided a platform to raise awareness of blended finance opportunities for farmers, improve access to affordable and sustainable finance, and foster meaningful engagement between policymakers, financiers, and farmers to explore innovative financing mechanisms aimed at addressing persistent challenges in the agricultural sector.
Funding challenges for smallholder farmers
Manopole emphasised that blended finance, combining concessional public funding with private sector investment, was a strategic tool to bridge the agricultural financing gap.
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She noted that smallholder and new-era farmers often face barriers, such as limited collateral, climate-related risks, and high production costs, making access to affordable credit difficult.
“Highlighting recent achievements, MEC Manopole reported that in the past year, over 1 000 producers received training, 1 300 subsistence farmers were supported with garden establishment packs, agriculture contributed R11 billion to the provincial GDP in 2023 as reported by Stats SA, and 13 000 new jobs were created in quarter 3 and quarter 4 of 2024.
“Looking ahead, the department aims to increase agriculture’s GDP contribution from 7% to 10%, support 60 land reform farms, train another 1 000 producers, and create 750 additional jobs in the sector,” the department stated.
Manopole said, “When resilience meets opportunity, transformation follows. Through blended finance, we can unlock not only funding but the full potential of the Northern Cape’s agricultural sector.”
The roadshow concluded with a strong call for partnership and accountability, reinforcing that blended finance is not a handout but a collaborative investment in sustainable agricultural growth and rural economic empowerment.
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