Mashudu SilimelaThe ABC agrees, in general, with Absa’s forecast, as it coincides with other projections as well. Absa
Agribusiness did a great job and provided good indication on where the opportunities are expected in
2012. However, the ABC has to be realistic in its view that the numbers seem to be much better than the
sentiment – and that cuts across the economy. Even though pessimists are beginning to gradually soften
their negative projections for the recovery of the South African economy, the situation is not yet as great
as we would like it to be. “We live in very uncertain times”, is what the governor of the Reserve Bank,
Gov. Gill Marcus says, when referring to the fragile global and local economy. Prof Raymond Parsons,
deputy CEO of BUSA said “the margin for error for economic forecasting has increased, thus the margin
for error in policy has narrowed and a mistake in domestic policy could be very costly”. Meaning that we
are likely to be wrong in forecasting the economy, therefore we cannot risk making the smallest policy
mistake – the same applies for the agricultural sector, if we want to realise the opportunities available, as
identified by the Absa forecasting.
06.12.2011 / Media Releases
After the gazetting of the Green Paper on Land Reform, Rural Development and Land Reform Minister
Gugile Nkwinti, invited certain stakeholders to participate in a National Reference Group (NAREG), to play
a constructive and participatory role, which is vital to the consultation process.
The Agricultural Business Chamber (ABC) took up the opportunity to provide constructive, business
oriented and politically neutral input to all 6 working groups within NAREG. The ABC had an internal
workshop to set the general mandate and appointed Prof. Nick Vink, an acknowledged agricultural
economist from University of Stellenbosch, to assist in constructing a well-informed position paper. The
ABC will present this position paper to its Council on 15 November, whereby it will be submitted to the
Minister before the official deadline for comments at the end of November 2011.
03.11.2011 / Media Releases