Still good to invest in agriculture

The drought has a strong grip on South Africa and it’s not letting go anytime soon. It is impacting every sector in then country and the economy as a whole and a weak South African Rand. Though, it still is a good time to invest in agriculture, recently reported by Ernst Janovksy, head of Absa Agribusiness.

Farmer’s Weekly reports; “Farmers are working in a changing world economy where they will become more well-off in rand terms but poorer if compared to other countries,” said Janovsky.

He explains to farmers that SA will not be able to compete in the China market with the dollar, as it will affect our exchange rate negatively. He further reported, “The effect of the drought is there, and is difficult for the individuals’ psyche, but to restructure books isn’t hard for a bank. No one is walking away from farmers. Agricultures turnover still is growing,”

Read the article on Farmer’s Weekly.