Paula Luckhoff
| Bruce Whitfield will get enter from each the Southern African Agri Initiative’s Dr Theo de Jager and the Land Bank’s Sydney Soundy.
– The Southern African Agri Initiative (Saai) accuses the Land Bank of utilizing bullying ways in opposition to farmers behind with repaying their debt
– Bruce Whitfield will get enter from each Saai’s Chairperson Dr Theo de Jager and Sydney Soundy, Executive Manage of Strategy and Communications on the Land Bank
South Africa’s Land Bank is being accused of finishing up an aggressive debt assortment drive which is threatening farmers and their landholdings.
Farmers gathered for a gathering on Thursday, organised by the Southern African Agri Initiative (Saai).
The group accuses the embattled state-owned Bank of making an attempt to save itself via what it says are “bullying tactics”.
RELATED: Treasury will have to step in where Land Bank defaults on bonds, says AgriSA CEO
Bruce Whitfield interviews Saai Chairperson Dr Theo de Jager and Sydney Soundy, Executive Manage of Strategy and Communications on the Land Bank.
Dr de Jager explains that as a community for household farmers, Saai’s members are extra small- and medium-sized enterprises.
“It’s a ‘family’ making a living from the land” he says.
We’ve seen amongst our members that there’s this actually surprising quantity of farming enterprises which have been knocked over, liquidated, by the Land Bank… by a couple of different firms too however largely by the Land Bank, for debt which is barely a fraction of the asset worth of these farmers.
Dr Theo de Jager, Chair – Southern African Agri Initiative
Very typically they’re third- and even fouth-generation farmers on that land. They have owed rather more to the Land Bank in relation to their property earlier than, however all of a sudden over the previous couple of months they’re being liquidated left, proper and centre and as soon as that course of is finished they’re being left with nothing. We couldn’t discover one of the farmers who may stroll on the market with something to begin over once more.
Dr Theo de Jager, Chair – Southern African Agri Initiative
It can be actually notable that amongst these farmers who’ve been liquidated there’s not one poor one; there’s not one farmer who’s actually bankrupt… The farmers who’re being knocked over are these with sufficient fats of their system that there is a lot of cash to be made out of this liquidation course of, and that is why we blew the whistle.
Dr Theo de Jager, Chair – Southern African Agri Initiative
Is de Jager implying there may be corruption on the Land Bank? asks Whitfield.
“It is common cause that the Land Bank is in very deep trouble” the Saai Chair responds.
Just see the Auditor General’s final report which was certified on the idea that he questioned whether or not the Land Bank remains to be actually a viable enterprise. That would most likely inspire the aggression behind the liquidation, particularly of these from whom cash could possibly be made.
Dr Theo de Jager, Chair – Southern African Agri Initiative
I believe it’s fairly honest to demand a correct investigation into the downstream processing of liquidations… If the Land Bank is so positive its nostril is clear, it ought to help such an investigation into the connection between sure officers on the Bank and the lawyer; the lawyer and the liquidators; the liquidators and the auctioneers – as a result of normally they’re precisely the identical teams – after which between the auctioneers and the large patrons.
Dr Theo de Jager, Chair – Southern African Agri Initiative
De Jager maintains the actual intention will not be to gather money owed, however to elevate cash to save the Bank.
Today we have now listened to voice recordings and a few video clips the place these attorneys and these liquidators act on farms, saying to farmers ‘Hurry up, I’ve one other six farmers to knock over right this moment’.
Dr Theo de Jager, Chair – Southern African Agri Initiative
The Land Bank’s Soundy says they cope with shoppers on a case-by-case foundation and the allegations are baseless.
He additionally insists that the Bank has been following the identical course of of “disciplined credit management controls” in latest months because it has up to now.
We took a choice within the course of the final yr or so to implement shoppers that have been managed on our behalf via so-called service degree settlement intermediaries… When we enforced these shoppers there have been indications of cases the place we would have liked to be sure that the identical customary of credit score administration self-discipline is appropriately instituted.
Sydney Soundy, Executive Manager: Strategy and Communications – Land Bank
Legal motion is definitely a final resort as soon as we have tried the opposite alternatives to resolve the challenges of a consumer.
Sydney Soundy, Executive Manager: Strategy and Communications – Land Bank
Soundy notes that the Bank cannot affect due courtroom processes that regulate the repossession or attachment of property, or liquidation.
“So there’s no way in which we think there would be a ‘cabal’ that then also controls the way in which decisions get made when cases go to court.”
Would he contemplate a gathering with de Jager to overview the proof he claims to have?
“Definitely!” responds the Land Bank Executive Manager.
Scroll to the highest of the article to pay attention to the interviews
This article first appeared on CapeTalk : Land Bank refutes allegations of ‘orchestrated attack’ on farmers to save itself
