Farmers now able to access John Deere equipment through Bank Windhoek’s exclusive deal
Agricultural producers through a specially designed farming deal exclusive to Bank Windhoek customers, can now access John Deere equipment.
The collaboration between John Deere, and Bank Windhoek’s Vehicle and Asset Finance (VAF) Branch will be valid until the end of August 2021, Bank Windhoek announced this week.
According to the bank, the agreement allows farmers to finance quality tractors, seeders, harvesters, and other farming equipment for their operations.
“We believe this initiative will empower farmers to become sustainable in producing animal fodder and streamline the efficiency of their production. The goal is for the farmers to thrive in Namibia’s farming environment, which contributes significantly to the nation’s gross domestic product,” said VAF’s Branch Manager, Sandra Blaauw.
The financing opportunity entails a 15% deposit, three-Month Payment Holiday, and 60 months repayment terms.
“It is the Bank’s way of extending a helping hand to any farmer in Namibia, whether small scale or commercial farmers,” she said.
John Deere is an American corporation that manufactures agricultural, construction, and forestry machinery.
Blaauw said as a responsible corporate citizen, Bank Windhoek has implemented various measures to assist farmers as they continue to recover from the drought experienced over a couple of years. From a customer perspective, an internal committee was established to look at commercial and communal farmers’ exposures. The committee’s task is to find innovative ways to mitigate the impact of the loss of income on the farmer’s financial obligations.
“Farmers are urged to get in contact with their respective Branch Managers to seek mutual solutions,” said Blaauw.
Blaauw said that Bank Windhoek would strategically focus on stakeholder engagement in the coming months to add value and be a connector of positive change within the farming sector.
“We believe that this cements our commitment as a relationship-driven bank, which puts its customer’s needs first during their financial journey,” she concluded.