Farmland transfers in KwaZulu-Natal, 1997-2003: A focus on land redistribution including restitution

Census surveys of land transactions show that 203,300 hectares of KwaZulu-Natal's commercial farmland transferred to previously disadvantaged South Africans over the period 1997-2003. This represents 3.8 per cent of the farmland originally available for redistribution in 1994. The annual rate of land redistribution in the province fell from a peak of 1.06 per cent in 2002 to 0.41 per cent in 2003, following an increase in the real price of farmland. Transactions financed only with government grants accounted for almost one-half of the redistributed farmland. However, the quality of farmland financed with grants awarded under government's land redistribution programme was poor relative to that financed privately. The LRAD programme introduced in 2001 improved government's contribution to land reform, attracting private capital and expertise into the process. Unfortunately, the number of transactions financed with a combination of LRAD grants and mortgage loans fell from 14 in 2002 to just six in 2003. It is recommended that all reputable banks (and not just the Land Bank) should be allowed to approve LRAD grants for eligible clients. Previously disadvantaged women gained less land, and much less land wealth, than did their male counterparts. Somewhat surprisingly, women were well represented in transactions financed by Ithala Finance and Investment Corporation to establish emerging sugarcane farmers. However, the same was not true of clients financed by the Land Bank.Land Economics/Use,

The Hubbard Dimer: A density functional case study of a many-body problem

This review explains the relationship between density functional theory and strongly correlated models using the simplest possible example, the two-site Hubbard model. The relationship to traditional quantum chemistry is included. Even in this elementary example, where the exact ground-state energy and site occupations can be found analytically, there is much to be explained in terms of the underlying logic and aims of Density Functional Theory. Although the usual solution is analytic, the density functional is given only implicitly. We overcome this difficulty using the Levy-Lieb construction to create a parametrization of the exact function with negligible errors. The symmetric case is most commonly studied, but we find a rich variation in behavior by including asymmetry, as strong correlation physics vies with charge-transfer effects. We explore the behavior of the gap and the many-body Green's function, demonstrating the `failure' of the Kohn-Sham method to reproduce the fundamental gap. We perform benchmark calculations of the occupation and components of the KS potentials, the correlation kinetic energies, and the adiabatic connection. We test several approximate functionals (restricted and unrestricted Hartree-Fock and Bethe Ansatz Local Density Approximation) to show their successes and limitations. We also discuss and illustrate the concept of the derivative discontinuity. Useful appendices include analytic expressions for Density Functional energy components, several limits of the exact functional (weak- and strong-coupling, symmetric and asymmetric), the Kohn-Sham hopping energy functional for 3 sites, various adiabatic connection results, proofs of exact conditions for this model, and the origin of the Hubbard model from a minimal basis model for stretched H$_2$

Measuring the performance of equity-share schemes in South African agriculture: A focus on financial criteria

This study aims to develop a robust methodology for measuring financial performance of equity-share schemes. Several studies have investigated various aspects of performance of these schemes but no single study has yet measured their performance using an objective set of criteria. Four categories of such objective criteria are proposed: poverty alleviation; empowerment and participation; institutional arrangements and governance; and financial performance. This paper focuses only on the financial performance criteria. Recognised indicators of financial performance are applied to balance sheet and income statement data provided by four equity-share schemes in the Western Cape province. This analysis highlights problems with several of the conventional ratios used to measure profitability, solvency and growth when they are applied to recently restructured farming enterprises whose 'empowerment' status attracts exceptionally high levels of debt capital to finance long-term investments. To avoid these problems it is recommended that, for equity-share schemes, profitability should be measured by the return on assets or dividend return; solvency by the debt/asset ratio; liquidity by cash flow projections; growth by changes in the (estimated) real value of shares; and workers' total returns by changes in the sum of the real wage bill, capital gains, dividends, interest and other benefits accruing to workers in aggregate.Agricultural Finance,

Criteria to monitor the poverty alleviation, empowerment and institutional performance of equity-share schemes in South African agriculture

This paper extends a previous study in South Africa aimed at developing methodology for assessing the performance of equity-share schemes. The previous study proposed four broad criteria to measure performance: poverty alleviation; empowerment and participation; institutional arrangements and governance; and financial performance. This paper does not aim to assess the performance of existing equity-share schemes but to develop a methodology for the first three criteria based on empirical analysis of data gathered in 2004 from a land reform project in the Midlands of KwaZulu-Natal and seven established equity-share schemes in the Western Cape. Poverty alleviation is measured using a transition matrix of households grouped by four different symptoms of poverty: current income, wealth, health and a principal component index of housing quality. Eight categories of indicators are recommended for empowerment and participation: control and ownership; skills transfer; understanding; information; outcomes; trust; outreach; and participation. A scorecard applying norms based on empirical evidence gathered at the equity-share schemes in the Western Cape is used to test the indicators. A scorecard approach is also applied to institutional arrangements and governance, which are measured using three categories of indicators: accountability, transparency and property rights. The proposed performance measures are relevant, manageable in number and have feasible norms based on empirical evidence. These indicators and their norms need to be tested on a wider scale and monitored over time. Future research should be undertaken to determine weights for the empowerment and institutional indicators.Food Security and Poverty,

Long-term results of iliac aneurysm repair with iliac branched endograft. A 5-year experience on 100 consecutive cases

Background: Iliac branch device (IBD) technique has been introduced as an appealing and effective solution to avoid complications occurring during repair of aorto-iliac aneurysm with extensive iliac involvement. Nevertheless, no large series with long-term follow-up of IBD are available. The aim of this study was to analyse safety and long-term efficacy of IBD in a consecutive series of patients.Methods: Between 2006 and 2011, 100 consecutive patients were enrolled in a prospective database on IBD. Indications included unilateral or bilateral common iliac artery aneurysms combined or not with abdominal aneurysms. Patients were routinely followed up with computed tomography. Data were reported according to the Kaplan-Meier method.Results: There were 96 males, mean age 74.1 years. Preoperative median common iliac aneurysm diameter was 40 mm (interquartile range (IQR): 35-44 mm). Sixty-seven patients had abdominal aortic aneurysm >35 mm (IQR: 40-57 mm) associated with iliac aneurysm. Eleven patients presented hypogastric aneurysm. Twelve patients underwent isolated iliac repair with IBD and 88 patients received associated endovascular aortic repair. Periprocedural technical success rate was 95%, with no mortality. Two patients experienced external iliac occlusion in the first month. At a median follow-up of 21 months (range 1-60) aneurysm growth >3 mm was detected in four iliac (4%) arteries. Iliac endoleak (one type III and two distal type I) developed in three patients and buttock claudication in four patients. Estimated patency rate of internal iliac branch was 91.4% at 1 and 5 years. Freedom from any reintervention rate was 90% at 1 year and 81.4% at 5 years. No late ruptures occurred.Conclusions: Long-term results show that IBD use can ensure persistent iliac aneurysm exclusion at 5 years, with low risk of reintervention. This technique can be considered as a first endovascular option in patients with extensive iliac aneurysm disease and favourable anatomy. (C) 2011 European Society for Vascular Surgery. Published by Elsevier Ltd. All rights reserved