ABSA and the Landbank have joined forces to establish the Klein Karoo Agri Business Centre in the Southern Cape to boost emerging and existing agricultural businesses.

The banks undertook the venture with the Klein Karoo Co-Operative.

In terms of the arrangement, Absa and Klein Karoo Co-Operative would ensure that historically disadvantaged individuals were empowered to take part in the agricultural economy in line with BEE strategy.

The Landbank’s task would be to ensure that some of the entrepreneurs became fully-fledged members of the Klein Karoo Co-op.

Absa’s Venete Klein said the venture would focus on micro and small existing or emerging agri businesses.

“This is in line with the Department of Trade and Industry strategy. However, it is possible that mega projects could also emerge and feasibility studies will be done.”

According to Klein, the Agri Business Centre had been marketed to various organisations and there had been positive feedback.