Quote: Daneel Rossouw, Head of Sales: Agriculture at Nedbank Commercial Banking

According to Q3 stats released today, agriculture showed a net gain of 39 000 jobs compared to Q2 but a loss of 21 000 jobs compared to Q3 2023. It must be noted that the agriculture sector employs a significant number of South Africans, with current total agricultural employment of about 900,000 still well above the long-term agricultural employment of 793,000 (2023 stats).

During the last 3 years the growth of the agricultural sector has been subdued due to various factors, including energy supply constraints, port inefficiencies and infrastructure challenges, rising geopolitical challenges, and dysfunctional municipalities. All these factors contributed to the significant constraints to long-term growth and employment opportunities. However, over the long term the sector has proven itself as a significant contributor to GDP and employer, with long-term growth outperforming the South African economy.

The implementation of the Agriculture and Agro-processing Master Plan needs to be prioritised as a catalyst for continued growth and to provide additional employment opportunities. This should be a collective effort by the South African government and the private sector and is critical for medium to long-term growth.