food monopoly in SA

WMC Owned Banking Cartels’ Food Monopoly in South Africa

A major population in South Africa is poverty-stricken with more than 60% of children under the age of 6 being a victim to malnutrition. As harrowing as this statement sounds, the reason behind is equally despicable. Because the culprits here also remain the boot-lickers/supporters of #WMC i.e, the 5 top banks in South Africa. However, this disclosure shouldn’t come as a surprise to anyone as these banks have long history of scams and frauds. The banking cartels are believed to have control over the food value chain, which translates to the fact that they have an indirect control over the land and health of the people of South Africa.

Out of the top 5 banks in South Africa, FirstRand, Investec Bank, Standard Bank and RMB control the major food produces and manufactures in the country. While prominent white-owned financial service providers like Remgro, PSG and Brait can be seen possessing the giant stakes in the food value chain. This sinister conspiracy of food production capture goes way back to 1996, when a policy called GEAR was adopted. At present, here are the stakes owned by the white owned banks:

  • Standard Bank, FirstRand, Nedcor and Investec control 66.73%  of the Astral Food Ltd;
  • These very banks own 72.22% of the Clover Industries, a foods and beverages group;
  • In Crookes Brother Ltd (sugar cane, bananas, deciduous fruit, grain and sheep), the percentage of control goes as high up as 77.02%.

Talking about the stakes of major financial service providers in South Africa:

  • Johann Rupert owned, Remgro is believed to have 72% stakes in RCL Foods Ltd (Rainbow Chickens, Sunbake, Mageu Number 1, Monati Mabele).
  • Christo Wiese owned, Brait is an indirect owner of Premier Foods Ltd (Blue Ribbon, Iwisa, Lil-Lets, Dove) with a massive chunk of 90% stakes.
  • PSG, another white-owned business run by Jannie Mouton along with Standard Bank, First Rand and Nedcor maintains a control 77% on Quantum Foods Ltd (animal feeds, broiler,eggs and layer livestock).
  • AVI Ltd (Five Roses, Freshpak, Bakers, Frisco); Crookes Brothers Ltd; and Rhodes Food Group (Bull Brand,fresh deciduous fruit, canned fruit and jams) also claim to have an average 70% control of their business in the hands of these top investors and banks in South Africa.

There are native blacks in South Africa who are struggling to earn one decent meal in a day for themselves and their nearly starving families; the children are dying due to the lack of food and healthcare facilities, and these white-owned investment firms and banks gloat over their successful capture of country’s food production, thus providing a healthy and prosperous life for the entirety of white minority. Such a Shame!

  • Tina D. Poland

    Eradicating malnutrition in South Africa is different phenomena, however, if one person will control one particular industry, it may create conflict in the market while setting the product price which may create price monopoly. Food industry plays a pivotal role in South African’s economy so, gov must ensure that all food item can be availed by the poor having best quality & proper hygienic.
    Yes, if White organizations dominate the food market, it may create trouble for SA’s economy.