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15 August 2025 | Story Martinette Brits | Photo Stephen Collett
Prof Yonas Bahta
Prof Yonas Bahta, Professor in the Department of Agricultural Economics at the University of the Free State, delivered his inaugural lecture on the future of agricultural trade and food security, titled Can We Own the Future? The Ever-Changing Dynamics of Agricultural Trade and Food Security Amid Intensifying Agricultural Drought.

With the world hurtling towards a population of 9,7 billion by 2050 – and Africa set to make up more than a quarter of that – the question of whether we can ‘own the future’ has never been more urgent. In his inaugural lecture at the University of the Free State (UFS), Prof Yonas Bahta from the Department of Agricultural Economics warned that climate change, trade tensions, and deepening food insecurity are converging to create unprecedented risks for farmers, economies, and communities.

“We find ourselves at a pivotal moment in human history, characterised by the intersection of climate change, particularly agricultural drought, resource scarcity, geopolitical instability, and the current trade reciprocal tariff, all of which pose significant threats to the foundational structures of global food systems,” he said.

 

From vulnerability to agency

Prof Bahta highlighted the stark reality that the world population is projected to reach 9,7 billion by 2050, with Africa constituting 2,5 billion. “Despite this growth, the agricultural sector predominantly operates at a subsistence level, with diminishing resources available to farming communities, especially smallholder farmers who rely on agriculture as their primary source of employment and sustenance.”

In South Africa, climate change – particularly agricultural drought – is affecting both commercial and smallholder farmers, with cascading effects on food security, employment, and livelihoods. Coupled with disease outbreaks, these factors lead to reduced crop yields, supply shocks, and trade imbalances that ripple through the economy.

Food insecurity remains a critical concern, with approximately 15 million South African households experiencing moderate to severe food insecurity – a figure even higher (25,5%) among households engaged in agricultural activities. Prof Bahta emphasised that these challenges are compounded by “institutional barriers such as the current trade reciprocal tariff by the USA, limited access to credit, crop and livestock insurance, inadequate road infrastructure, and electricity shortages”.

Despite these challenges, Prof Bahta sees clear opportunities. He pointed to Africa, including South Africa’s extensive arable land; research and innovation have highlighted the benefits of integrating traditional techniques with modern approaches such as climate-smart agriculture and its membership of BRICS and other trading partners as levers for resilience and growth. “Securing the future is not about mere assertion but about the stewardship of markets, data, and people,” he said. By aligning trade policy, drought preparedness, and social protection within robust institutions, “the country can transition from vulnerability to agency, from passively observing the future to actively shaping it. In doing so, we may indeed assert with integrity that ‘We own the future’.”

 

About Prof Yonas Bahta

Prof Yonas Bahta is a Professor and NRF-rated researcher in the Department of Agricultural Economics at the University of the Free State. He joined the UFS as a researcher in 2014 and has supervised more than 42 postgraduate students (both MSc and PhD), of whom 29 have completed their studies (10 PhD and 19 MSc).

He holds a PhD (2007) and MSc (2004, with distinction) in Agricultural Economics from the UFS, and a BSc (1994) in Agricultural Economics from Haramaya University, Ethiopia. Prof Bahta serves on the editorial boards of several journals, acts as a reviewer and guest editor, and is a member of several national and international professional bodies.

His work has been recognised with an award from the African Growth and Development Policy Modelling Consortium (AGRODEP), and in 2024 he was rated among the top 2% of researchers globally by Elsevier.

News Archive

Deputy Governor of SA Reserve Bank inspires students
2016-08-19

Description: Deputy Governor of SA Reserve Bank  Tags: Deputy Governor of SA Reserve Bank

Dr Lyndon du Plessis, Head of Department of Public
Administration and Management, Francois Groepe,
Deputy Governor of the South African Reserve Bank,
Prof Philippe Burger, Head of the
Department of Economics and B.Com Hons student,
Mosoeu Mabote.

Photo: Siobhan Canavan

Students from the Faculty of Economic and Management Sciences had the opportunity to learn from the best in the field when the Deputy Governor of the South African Reserve Bank, Francois Groepe, presented a seminar on the changing roles of central banks.

According to Groepe, we are currently living in challenging times as central banks are called on to do more.

“Central banks have limits, and these limits are not always understood,” he said on 11 August 2016 in the Equitas Auditorium on the Bloemfontein Campus.

How central banks contribute to inflation

There are two main generally-expected roles from central banks: the obvious one of providing bank notes and coins, and the other, maintaining price stability.

According to Groepe, the aim of keeping prices stable is to ensure easier planning for the future, and to assist the poor.

“The poor are the ones more vulnerable to higher inflation because they hardly have enough to get by,” he said.

A negative impact on monetary policies could affect the economy negatively. This is as a result of higher inflation caused by the increase in food prices.

Furthermore, the 12% government debt renders a negative yield in the economy.

The stability of finances in South Africa


Financial stability is not an end in itself, but, like price stability, is generally regarded as an important precondition for sustainable economic growth, development, and employment creation.

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