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IOL News
20 hours ago
- Business
- IOL News
Land Bank launches Wine and Spirits Fund to boost transformation in industry
The Land Bank has launched a Wine and Spirits Fund aimed at accelerating transformation in the country's wine and spirits sector, in a partnership backed by the European Union and the South African government. Image: Supplied The Land Bank has launched a Wine and Spirits Fund aimed at accelerating transformation in the country's wine and spirits sector, in a partnership backed by the European Union and the South African government. The initiative forms part of a broader support programme, under Financing Agreement No. ZA/DCI-AFS/040-854, designed to increase the participation of Black-owned businesses in the wine and spirits value chain and enhance global market access for South African products, it said in a statement on Thursday. South Africa, ranked seventh among the world's top wine-producing countries, produced nearly 934 million litres of wine in 2023. The sector contributes an estimated R56.5 billion to gross domestic product. The programme is divided into two components: a R195 million transformation component, managed by Land Bank, and a R98 million marketing and distribution component, led by the National Agricultural Marketing Council. The transformation component will focus on improving access to land, infrastructure, education, and financial resources for Black-owned enterprises. Land Bank CEO Themba Rikhotso said, 'South Africa is recognised as one of the leading countries in the production of wine, which is exported throughout the world. Land Bank is delighted by the support of the EU. It will drive a transformation agenda in the wine and spirits sector, which has historically not been fully inclusive in its production value chain.' Applications for the fund open on June 19, 2025. Qualifying applicants must be Black-owned and managed enterprises within the wine and spirits industry. (For more information go to Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ EU Ambassador to South Africa Sandra Kramer described the partnership as 'ground-breaking' and said it would promote equitable access to land and education while strengthening export capabilities for Black-owned brands in non-EU markets. The EU's contribution of €10 million (R207m) will provide successful applicants with access to either direct grants of between R500 000 and R3.5 million or equity-linked funding of up to R10m in partnership with Land Bank and other financial institutions. BUSINESS REPORT Visit:
Yahoo
31-05-2025
- Business
- Yahoo
Farmers warn of imminent price spikes for beloved food item: 'This is being exacerbated now'
If you're planning to fire up the grill in South Africa anytime soon, you might want to brace your wallet. The cost of a traditional braai — a beloved local cookout — is climbing faster than general inflation, and farmers say extreme weather is to blame. As Business Tech explained, the latest South African Braai Index, a monthly snapshot of food prices, revealed that the cost of a typical braai basket rose by 4% in April compared to March — and is up 4.03% year over year. While meat prices have wobbled, the real culprits behind the April spike were vegetables, with tomatoes jumping 26% and carrots climbing 20% in just one month. Over the long term, maize meal — a cookout staple — has surged by 21% compared to last year. Business Tech cited South Africa's Bureau for Food and Agricultural Policy, which said rising maize costs stem from shrinking supply in Brazil, poor harvests in Argentina, and strong export demand. Domestically, low stock levels and delayed planting seasons due to erratic weather have only added pressure. Even beef, which saw a temporary price dip earlier this year, is now spiking again. A beef carcass that used to sell for R56 per kilogram is now going for as much as R74 — a staggering 32% jump. South Africans aren't just losing access to a favorite national pastime — they're staring down a deeper issue: the growing cost of putting food on the table. As senior agricultural economist for trade research at the National Agricultural Marketing Council (NAMC), Thabile Nkunjana told The Money Show, via Business Tech, "This is being exacerbated now." Grain crops, which are essential for both human consumption and livestock feed, have been hit hard by extreme swings in weather — from droughts to downpours — disrupting supply chains and making feed more expensive. As feed prices rise, so do meat prices, especially when farmers can't afford to bring underfed livestock to market. It's a local snapshot of a global trend: As our planet continues to overheat, the cost of basic foods is becoming more volatile — and for many, unaffordable. On a larger scale, countries are working to stabilize food systems by investing in drought-resistant crops, encouraging regenerative agriculture practices, and implementing early-warning systems for extreme weather. What is the biggest reason you don't grow food at home? Not enough time Not enough space It seems too hard I have a garden already Click your choice to see results and speak your mind. Locally, South Africa is exploring smart agriculture tech to help farmers adapt — such as using predictive tools to manage planting cycles and protect against future crop losses. Nonprofits like the Southern Africa Food Lab are also working on community-based solutions to improve food access. For consumers, there are still ways to save: Buying locally and in-season, reducing meat consumption, and cutting down food waste can help stretch budgets and reduce strain on the planet. Because while the price of a braai may be going up, smarter systems and shared solutions could help keep it within reach for everyone. Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
