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Resumo

This article contributes to the wider debates on the impacts and outcomes of state efforts to create agrarian capitalists in land reform and agriculture in most countries of the global South. Specifically, this article presents empirical evidence on South Africa's State Land Lease and Disposal Policy (SLLDP) and analyses emerging accumulation dynamics in land redistribution. The evidence presented demonstrates that most of the SLLDP farm beneficiaries are capitalists from non‐agrarian sectors who increasingly see land reform as the new frontier for accumulation with significant opportunities to access state land and production support. Other agrarian capitalists leverage political influence and accumulate through privileged access to public resources. In contrast, accumulation from below through the reinvestment of farming proceeds remains constrained. Promoting a small segment of already wealthy capitalists greatly limits the potential of land reform to transform social relations in property in favour of historically marginalised social classes.

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