3 minutes with Peter Setou

Chief executive of the Vumelana Advisory Fund

If you were given R30 million to invest in agriculture, either in new or existing farming activities or in the agriculture value chain, how would you spend it?

I’d plough the money into resuscitating one of the many farms that has been restored to rural communities through the land restitution programme and has become unproductive. I think it’s important for these communities to establish integrated farming businesses that incorporate end-to-end processes in the value chain. For example, if it’s a cattle farm, the business should include a feedlot and have its own abattoir and butchery to produce value-added meat products such as sausages and premium cuts that can be supplied to local retailers and communities. This could generate much-needed jobs in the rural areas.

What is the best advice you have ever been given?

Procrastination is the biggest thief of time. Start where you are with the little that you’ve got, and with time, the bigger picture will unfold.

If you were given carte blanche to effect one major change in South Africa tomorrow, how would you use this power?

Deliberately pursuing excellence in ecotourism and agriculture, and ensuring that entrepreneurs with sound business plans and solid ideas are funded and skilled up. Land reform in the country is a time bomb waiting to explode if not prioritised and approached with innovative ideas and co-operation from both the private and public sectors.

What is the one thing that the national COVID-19 lockdown has taught you not to take for granted?

It pays to participate in the farming and agriculture sector. Regardless of the pandemic, people have to be fed, so having interests in farming and agriculture can sustain one even through tough times.

What is your favourite South African dish?

Cow’s head and pap, as prepared by my uncle.