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OVERVIEW

Banking and financial services Agricultural companies have a strong suite in finance.

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ost agricultural companies in the Northern Cape have financing and services divisions, as one would expect in a province with a strong and varied agricultural sector which exports much of its produce. This provides real competition for the retail banks, most of which have specialised agricultural desks. The Land and Agricultural Development Bank of South Africa (Land Bank) is a major participant in the Northern Cape financial sector and the Industrial Development Corporation (IDC), as an equity investor in companies such as Red Sun Dried Fruit (shown above), is another important player. The established banks have specialists in the province and dedicated units such as Nedbank Agribusiness. Focus areas for this unit are agronomy (grain, oil seeds, sugar and cotton), livestock (including game farming), horticulture (fruit and vegetables, for example), and secondary agriculture which covers agricultural processing and storage. Nedbank has a total of 27 business managers in Nedbank Business Banking for the province and the neighbouring Free State, whose brief includes agriculture. GWK is one of the biggest agricultural firms, with the GW standing for Griqualand West. Despite the name, the company has its roots in the Northern Cape province and its headquarters in the town of Douglas near to the confluence of the Vaal and Orange rivers. GWK has six NORTHERN CAPE BUSINESS 2018/19

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SECTOR INSIGHTS Capitec has entered the insurance market. units within its Corporate Services division and these mostly relate to finance: Finance, Financing, Risk Management, and Financial Agricultural Advice. Farmers have a wide choice of products to choose from: production loans for the cultivation of products, livestock production loans, buyers accounts, auction accounts and instalment agreements for buying equipment, vineyard establishment and livestock.

Northern Cape Business 2018/19 edition  

Officially supported and used by the Northern Cape Department of Economic Development and Tourism, Northern Cape Business is unique as a bus...

Northern Cape Business 2018/19 edition  

Officially supported and used by the Northern Cape Department of Economic Development and Tourism, Northern Cape Business is unique as a bus...

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