Local bank gets real about agriculture

By Jeremiah Ndjoze

THE agricultural sector’s ability to provide jobs as well as the viability of emerging small and medium enterprises in that sector has got the attention of executives at Bank Windhoek. And in recent times, the bank is throwing all its chips behind into the sector – with security and employment creation as the primary goals.

To this end, today, the bank is hosting day two of its second Online Agriculture Series – which started yesterday. Themed ‘Innovation and Trends that will shape the future of Agriculture’, the Bank Windhoek Agriculture Series will broadcast live on its Facebook and YouTube social media platforms. 

 According to the bank, the series allows experts in their field to share their knowledge with those in the agriculture sector while interested parties are allowed to contribute to the sector’s commitment and drive. The four-part series further engages the public on agriculture innovation, maximising production, improving crop yields with minimal water usage, and understanding the current agricultural economics and megatrends. 

Bank Windhoek executive officer of marketing and corporate communication Services, Jacqueline Pack, said that the bank understands the importance of promoting and supporting the agricultural sector.

“The agriculture sector is a pivotal stakeholder for Bank Windhoek and a key sector to the country,” she said.

 Namibia’s agricultural sector contributes about five percent to the national Gross Domestic Product and sustains 70 percent of the population.  

 

EXPERT LINE UP

This week series, Confidente has learned, will feature economic advisor to the Namibian President, James Mnyupe, who will speak alongside Bank Windhoek’s sustainable investments and deal origination manager, Ruan Bestbier.

Zambia’s fisheries, aquaculture, and environmental consultant, Adrian Piers, will share the insights for establishing viable aquaponics businesses in Namibia. Senior agricultural economics lecturer at the Namibia University of Science and Technology (NUST) and Agribusiness Management specialist, Salomo Mbai, will highlight the Agricultural Economic Overview.

Pack concluded that as a connector of positive change and a responsible corporate citizen, the bank believes in driving progress in the communities in which it operates.

“The agriculture sector is the biggest employer, constituting about 24 percent of the labour force. Bank Windhoek also sees rising Small Medium Enterprises in the agriculture sector. It is thus important to engage and support these sustainable and businesses and the sector as a whole,” she said.

  

CREDIT SCHEME

Meanwhile, the bank recently announced that potential buyers taking part in the Schumacher Bonsmara Auction, set for July 29, could apply for financing before the event. A hybrid occasion, the auction will take place at the Agra/Bank Windhoek Ring in the capital.

 Notable is the fact that Okozonduno Bonsmaras, owned by former banking executive and commercial Vetumbuavi Mungunda have been billed as guest sellers at the event. The Schumacher Bonsmara Auction, will see 105 Bonsmaras comprising 25 bulls and 80 females go under the hammer. The Bonsmara breed of cattle is known for its adaptability, high-quality beef, and resistance to local diseases.

 Bank Windhoek head of corporate social investment, sponsorship, and events, Bronwyn Moody, said the bank is delighted to have developed the credit scheme.

“The conditions for potential purchasers include a 12-month financing term, and a 10 percent deposit of the purchase amount,” she said. “Livestock conditions and husbandry practices must to be adhered to for the duration of the finance.” 

 To qualify, Moody added, potential buyers should provide their latest signed audited financials, personal balance sheet, and cash flow forecasts.