Commentary and analysis to persuade people to become socialist and to act for themselves, organizing democratically and without leaders, to bring about a world of common ownership and free access. We are solely concerned with building a movement of socialists for socialism. We are not reformists with a programme of policies to patch up capitalism.
Africa an El Dorado for South Africa’s Agribusiness Giants
African Centre for Biosafety | 9
The ACB has today, released its new
report titled, "Africa an El Dorado for South Africa’s
Agribusiness Giants," which shows the extent to which South
African agribusinesses dominate the farm to fork agribusiness value
chain in Africa-worth billions of dollars.
Tiger Foods, Pioneer Foods
Group, Tongaat Hulett, Astral Foods, AFGRI, Illovo Sugar, Anglovaal
Industries (now AVI), Rainbow Chicken (RCL Foods), Clover Holdings
and Oceana Group are among the top 20 African businesses operating on
the continent. Shoprite, South Africa’s biggest supermarket
retailer, already holds 34% of the continent’s supermarket sector.
Seven of the ten leading agribusinesses (Tiger Foods, Premier Foods,
AFGRI, Illovo Sugar, Astral Foods, Clover Group and Tongaat Hulett)
are backed by the South Africa government-owned Public Investment
Corporation (PIC), which is responsible for managing the South
African Government Employees Pension Fund (GEPF), the Unemployment
Insurance Fund (UIF) and the Compensation Commissioner’s Fund.
These agribusinesses benefit enormously from access to private
capital, experience, established distribution chains and both direct
and indirect subsidies and incentives offered to them. There are
several implications stemming from South African agribusiness
expansion onto the continent, including entrenching a culture of
corporate consolidation, blocking the emergence of small operators
and producers, depressing local innovation systems and negatively
impacting on food security.