South Africa’s banking cartel and control of food

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By Pinky Khoabane

Dr Johann Rupert

Johann Rupert – Remgro & FirstRand

With more than 60% of children under 6 years old suffering from malnutrition [1] it’s important to identify who controls what we eat and why poverty has increased from 42% in 1994 to over 60% by 2000[2]. South Africa’s racist policies for over 300 years have left a shocking state of affairs on the Black majority. Although they began voting in 1994, the colonial structure of the economy remains intact and is controlled by Whites hence poverty remains Black and disproportionately Black-female.

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Christo Wiese – Brait & Shoprite

There has been an ongoing debate about land and economic control in South Africa with some denying the existence of White Monopoly Capital ( a few White males controlling major sectors of South Africa’s economy) but those who deny the existence of White Monopoly Capital fail to cite numbers to justify their delusions.

Businesswoman Bethenny Frankel once said: “Your diet is a bank account. Good food choices are good investments” so with this view we need to ask who controls our food thus our lives and investments as a tool to decipher on who controls South Africa.

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Jannie Mouton – PSG

Many South Africans are not aware that the banking cartel of 5 big banks which control 91% of banking also control the food value chain thus the land and our health [3].

Major food producers and manufacturers controlled by banks and other financial service providers:

  • Astral Foods Ltd(poultry and poultry feed mills) – Standard Bank, First Rand, Nedcor and JP Morgan Securities control 71.16% of this major poultry player which applied for immunity for corrupt practices in 2010 with Competition Commission[4]
  • AVI Ltd (Five Roses, Freshpak, Bakers, Frisco) – Standard Bank, First Rand, Nedcor, Investec control 66.73%
  • Clover Industries Ltd (Clover Fresh Milk, Milk Powder, Tropika, Ultra Mel) – Standard Bank, First Rand, Nedcor, Investec control 72.22%
  • Crookes Brothers Ltd (sugar cane, bananas, deciduous fruit, grain and sheep) – Standard Bank, Investec and First Rand control 76.74%
  • Quantum Foods Ltd (animal feeds, broiler,eggs and layer livestock) – PSG, Standard Bank, First Rand and Nedcor control 77.02%
  • RCL Foods Ltd (Rainbow Chickens, Sunbake, Mageu Number 1, Monati Mabele) – Remgro 72%
  • Rhodes Food Group (Bull Brand,fresh deciduous fruit, canned fruit and jams) – RMB Morgan Stanley, Standard Bank control 77.52%
  • Premier Foods Ltd (Blue Ribbon, Iwisa, Lil-Lets, Dove) – Brait 90%

The most striking feature in South Africa’s food production is the presence of three White males with significant stakes across the value chain and they are Johann Rupert (Remgro/FirstRand), Jannie Mouton(PSG) and Christo Wiese (Brait/Shoprite).

The banks and other financial services managed to capture South Africa’s food production after the dawn of deregulation when a policy called GEAR was adopted in 1996 so those who claim that White Mononopoly Capital doesn’t exist need to explain to the public how the brief picture drawn above can be explained.

Sources:

[1] South African Early Childhood Review 2016

http://m.news24.com/news24/SouthAfrica/News/63-of-young-sa-children-live-in-poverty-study-20160513

[2] http://theconversation.com/how-current-measures-underestimate-the-level-of-poverty-in-south-africa-4670

[3] South African Reserve Bank Supervision Department Annual Report 2016

[4] http://www.fin24.com/companies/agribusiness/astral-applies-for-immunity-in-cartel-case-20110909?mobile=true

 

9 Comments on "South Africa’s banking cartel and control of food"

  1. Food gardens are important as our first step to freedom. I have started mine but monkeys are my challenge. Who knows what to do?

  2. sipho sithole | July 13, 2017 at 12:18 pm | Reply

    WTF??? We must not ever forgive these former finance ministers who on their watch this happened.monopolies are wrecking the economy of this country and yet the government doesn’t do nothing about it instead they are approving more mergers like SABmiller and INBEv…

  3. The consequences of this is always felt by poor who majority are black. Question is who is always gaining and how is he or she managing to perpetrate these atrocities? why is government so reluctant in deal with these thug in sheep clothes? while they proudly say our constitution is regard is one of the best in among many countries around the world. does our transparent constitution means white monopoly capital are free of looting the purse of black people with any accountability. or is these the reality of us black people. who made the policies that keep on negatively impacting to our never seen poverty.

    who benefited most when the so called apartheid end and legalised looting caming in 1994. the so peaceful negotions in both codesa happened, what is that was negotiated that keeping marginalising blacks so much.

  4. Jeff Koorbanally | July 14, 2017 at 8:49 am | Reply

    Excellent “expose” Pk.
    Well done great work as always!

  5. Excellent and sterling you are doing Sis’ PK! Our own comrades have sold us for a 30 ‘shekels’. It’s nauseating to say the least.

  6. Thank you Pinky my wish is that this articles are read by black majority to understand the exploitation that continues under white monopoly capitalists.

    • Pinky Khoabane | July 15, 2017 at 11:55 am | Reply

      Thanks Lazarus. Yes, it is my wish also to see this platform go on print and those audio clips you find on whatsapp. Let’s keep dreaming maybe our dream will come true.

      Kindest

      PK

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