AgriSA said on Tuesday that the impact of South Africa’s foreign currency credit rating downgrades was likely to be felt outside of the country’s borders and would have an impact in the Southern African region as a whole.
South Africa’s foreign currency credit rating was downgraded to junk status by the S&P Global and Fitch credit rating agencies in the wake of the Cabinet reshuffle which saw Pravin Gordhan axed as Finance Minister.
President of AgriSA, Johannes Möller said in a statement that the downgrades would impact neighbouring countries because South Africa is often viewed as the gateway to Africa in terms of investment and logistics, whilst also being a major trading partner for many of these countries.
Agri SA says it has no record of farmers who were assisted with drought relief through the R2.5 billion mentioned by President Jacob Zuma in his State of the Nation Address (Sona).
The organisation says most farmers had to get loans from First Land Bank to ensure that they could survive the drought conditions.
Agri SA’s President Johannes Moller says they have approached the Agriculture Department for an outline of how the R2.5 billion was calculated.
“Farmers from all walks of life have pressed us for help because there was no help coming from the government.”
Moller says the president’s announcement that the Land Expropriation Bill will again be assessed in Parliament shows uncertainty on the part of government.
“It’s completely inextricable to us how the people who wrote this couldn’t even coordinate it.”
Agri SA says it is hoping to get to the bottom of this issue.