However, while the Land Bank provided wholesale finance to co-operative agribusinesses which then offered loans to finance the development of farming, commercial banks should get involved in financing development projects that were presently the focus of agribusinesses and could create jobs and support small-scale farmers, Du Plessis said, reports Business Day. His comments come a week after the Competition Tribunal approved, without conditions, a deal in which Afgri's GroCapital unit sold its debtors' book, valued at about R2,4 billion, to the Land Bank.
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