Life line for agricultural sector

First National Bank of Namibia (FNB) Agri has pledged to continue to support one of the largest employers which accommodates 27% of the national workforce, the agricultural sector. “Agriculture remains one of the four main pillars of the Namibian economy and is a sector which deserves protecting and pampering” said Christo Viljoen, Head: FNB Agri & Tourism, adding that agriculture contributes 5.1% to the Namibian GDP. In 2011 this was 4.7%. “In 2014 we will continue our drive to find products and solutions tailor-made to the specific industry that agriculture falls under. We understand the challenges of being a farmer and our visibility, knowledge and hands-on involvement has not gone unnoticed. Together with our clients we are extremely thankful for the rain thus far and also the fact that meat prices have seen an increase again due to supply and demand,” stated Viljoen.

Looking back at the last three months of 2013, Viljoen remarked that these had been extremely busy months for FNB Namibia as the Agri division introduced their new Bush clearing loan to the market, a first for Namibian agriculture. “This product was very well received and we would like to encourage farmers again to contact us in the New Year,” says Viljoen. FNB Agri was also involved in numerous activities as main sponsors such as the LPO conference and LPO congress, Paresis Auction and Windhoek Show towards the end of the year. Viljoen advised farmers to maintain a healthy relationship with the bank as well as properly plan and use their funds accordingly for them to prosper in the agricultural sector. Their budget must be properly allocated for the year ahead with realistic income and expense assumptions. He also stressed the need for the farmers to ensure that their financial statements are in order, accurate and up to date. He encouraged the farmers to liaise with their bank branches so as to make the necessary arrangements regarding bank issues and be well informed of any detail occurring in the agricultural sector.