Land Bank launches Wine and Spirits Fund to boost transformation in industry
Image: Supplied
The Land Bank has launched a Wine and Spirits Fund aimed at accelerating transformation in the country's wine and spirits sector, in a partnership backed by the European Union and the South African government.
The initiative forms part of a broader support programme, under Financing Agreement No. ZA/DCI-AFS/040-854, designed to increase the participation of Black-owned businesses in the wine and spirits value chain and enhance global market access for South African products, it said in a statement on Thursday.
South Africa, ranked seventh among the world's top wine-producing countries, produced nearly 934 million litres of wine in 2023. The sector contributes an estimated R56.5 billion to gross domestic product.
The programme is divided into two components: a R195 million transformation component, managed by Land Bank, and a R98 million marketing and distribution component, led by the National Agricultural Marketing Council. The transformation component will focus on improving access to land, infrastructure, education, and financial resources for Black-owned enterprises.
Land Bank CEO Themba Rikhotso said, 'South Africa is recognised as one of the leading countries in the production of wine, which is exported throughout the world. Land Bank is delighted by the support of the EU. It will drive a transformation agenda in the wine and spirits sector, which has historically not been fully inclusive in its production value chain.'
Applications for the fund open on June 19, 2025. Qualifying applicants must be Black-owned and managed enterprises within the wine and spirits industry. (For more information go to www.landbank.co.za.)
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EU Ambassador to South Africa Sandra Kramer described the partnership as 'ground-breaking' and said it would promote equitable access to land and education while strengthening export capabilities for Black-owned brands in non-EU markets.
The EU's contribution of €10 million (R207m) will provide successful applicants with access to either direct grants of between R500 000 and R3.5 million or equity-linked funding of up to R10m in partnership with Land Bank and other financial institutions.
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