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New funding deal for emerging farmers

5 Jul 2012

Fin24 reports the Land Bank and the African Development Bank have set up a R1-billion fund to help emerging and commercial farmers who need access to finance. The loans will carry a two-year moratorium on repayments, which will be payable over 15 years.

Phakamani Hadebe, chief executive of the Land Bank says the moratorium is essential for farmers as it takes at least two years for farms to become productive and start making profits, Fin24 reports.

Read the full article on www.businessday.co.za.