NPO Vumelana Advisory Fund receives R5 million grant from the Sanlam Foundation
Share this article:
The Vumelana Advisory Fund, a non-profit organisation that helps communities that have land rights to make their land productive, has received R5 million in funding support from the Sanlam Foundation.
The grant will support Vumelana’s ongoing work of fostering collaboration between landowners and investors to fulfil South Africa’s land reform objectives of promoting investment and creating employment.
Vumelana Advisory Fund’s CEO, Peter Setou, said the funding of land reform continued to be under-resourced and it was pleasing to see private companies responding to the calls that they have been making for funding support, especially given the country’s agricultural potential, which can contribute to growth in the economy post-Covid-19.
“Sanlam’s contribution will further contribute towards addressing the challenges that land reform beneficiaries continue to face in making their land profitable,” Setou said.
The R5m grant would be spread across five years and be project specific.
The agreement’s first year of funding will be used to support the Coromandel Farmers Trust based in Mpumalanga to activate investor interest for agricultural development on its land, ultimately resulting in a partnership with a commercial operator. The farmers trust is an institution established to acquire and manage the land on behalf of the community.
BUSINESS REPORT ONLINE