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A blended finance scheme aimed at Eastern Cape-based agricultural businesses is driving the growth, competitiveness, and productivity of 30 agri-entrepreneurs who have received R50.5 million in funding since its inception in 2023.
This initiative of the Eastern Cape Development Corporation (ECDC) and the Eastern Cape Rural Development Agency (ECRDA) disbursed the funds to qualifying agricultural businesses as a part loan and part incentive.
The ECRDA contributed R33.3 million to fund the incentive portion of the blended finance scheme, while the ECDC ringfenced R25 million for loan funding to qualifying businesses.
The 30 funded farmers are from the Amathole, Chris Hani, Sarah Baartman, OR Tambo and Alfred Nzo district municipalities.
They also include farmers from the Nelson Mandela Bay and Buffalo City Metros.
The main products produced by these farmers include beef, dairy, chickens, sorghum, cannabis, yellow and white maize, macadamia nuts, as well as seasonal crops such as spinach and cabbage.
The Agri Blended Finance scheme aims to leverage public and private sector resources to increase the scope of available support (financial, technical, and non-financial), to unlock and enhance agricultural value chains with a clear commercial intent.
