Agribank says it has invested N$12.8 million towards the operationalisation of its Agri Advisory Services Division (AASD) within the Marketing and Customer Strategy Department of the Bank.
AASD aims to transfer skills and knowledge as well as inspire positive attitudes in farmers towards agribusiness to improve productivity and promote business relationships between clients, potential clients and the Bank, with the long-term objective of transforming agricultural ventures into viable sustainable business enterprises.
The bank said 36,013 agri-entrepreneurs, of which 70% are small-scale farmers based in communal or rural areas of the country, with 120 clients of the Bank, are being mentored through the division.
“As a result of this intervention, coupled with robust stakeholder engagements especially for the past two financial years, poultry loans increased by 188% to N$1.99 million ending February 2022 from N$694 551 in the FY2020/21. Furthermore, loans advanced to youth (only clients below the age of 35) increased by 75% to N$19 million year-to-date, with 44 beneficiaries, from N$10.9 million with 27 beneficiaries in the FY2020/21 mostly for livestock production,” Regan Mwazi, Agribank’s Executive Manager Marketing and Customer Strategy Department said.
He said the bank’s mentorship initiatives have had a positive effect on reduction in livestock mortality rates for mentees.
“Mortality amongst cattle reduced significantly from 23% in the FY2019/20 to 6% in the FY2020/21. In addition, cattle off-take rates have increased over the mentorship period from 14% in FY2018/19 to 34% in FY2020/21. This signifies an increase in the production of marketable animals and the adoption of business principles in farming to create wealth,” Mwazi said.
The AASD’s capacity development interventions use different methodologies towards service delivery countrywide, which includes face-to-face, 2-day short training courses, lectures, practical sessions, excursions, farmers’ information days, published articles, radio broadcasts, as well as social media learning packages hosted via several social media platforms.
“The short training courses have provided the opportunity for agri-entrepreneurs to acquire practical knowledge and skills in various farming aspects. During the FY2021/22, short training courses have focused on building capacity in diversified farming enterprises such as poultry, crop, horticulture, and hydroponic production amongst others. This has greatly contributed to building Namibian farmers’ resilience to climatic changes and shocks. The women and youth category formed 60% of the participation rate in the training courses conducted thus far,” he said.
