Fostering Growth and Prosperity for Farmers in Challenging Times

Bank Windhoek’s Executive Officer for Retail Banking Services and Specialist Finance, James Chapman, stated that the livestock and meat industry experienced a notable uptick in marketing activities during the first quarter of 2024, particularly in the cattle sector, which recorded a remarkable growth rate of 47.9 percent. However, he highlighted that this growth faces challenges due to limited rainfall and high input costs affecting the sustainability of the agricultural sector. Chapman made these remarks at the Agra Weaner Championship Gala held on Friday, 18 October 2024, in Windhoek.

As farmers prepare for drier conditions for the remainder of the season, Chapman noted that pressure on the industry remains significant. “Bank Windhoek profoundly understands the challenges and importance of this sector. Cattle farming contributes approximately 5.1% to Namibia’s Gross Domestic Product (GDP), with 70% of that output coming from the livestock sub-sector. We are proud to announce that Bank Windhoek’s total investment towards Agra has reached N$1.6 million to date, underscoring our commitment to supporting this vital industry,” he stated.

Following the conclusion of the thirteenth edition of the Agra Weaner Championship Series, the Agra Weaner Championship Gala was held to announce regional and national winners, celebrating excellence in cattle production across Namibia, with Bank Windhoek as the main sponsor.

Through its longstanding partnership with Agra, Bank Windhoek has established a platform that fosters growth and prosperity for farmers and recognizes Agra as a proudly Namibian entity that aligns with its shared vision of creating a positive impact within Namibian communities. Aiming to foster growth in untapped markets and expand the potential of Namibia’s agricultural sector, the Bank facilitated 18 auctions nationwide, including communal farmers in Aminus, Okondjatu, Talismanus, and Okakarara.

Regional winner of the northern first prize in Outjo for the Veld Potential category, Ismael Ouseb, who farms with large stock, including Brahman and Braunvieh cattle, expressed his optimism: “This year has been exceptional for our cattle amidst the challenge of little rainfall. We have won various categories, which has brought us to a national level. We look forward to participating in the next Weaner season.”

Agra’s Chief Executive Officer, Arnold Klein, acknowledged the challenges faced this year for both producers and Agra. “Through perseverance and commitment, we were able to navigate these challenges. Agra facilitates the weaner series to showcase the best animals produced in the country while assisting farmers in negotiating better prices at the auctions,” he explained.

Chapman emphasized Bank Windhoek’s dedication to providing financial solutions, expert advice, and resources that empower farmers to navigate the complexities of modern agriculture. “Our partnership with John Deere exemplifies this commitment. We facilitate financing for high-quality agricultural equipment to enhance efficiency and profitability. We have allocated N$25 million towards agricultural projects through our sustainability loan product. Additionally, our support for agricultural shows nationwide and the successful youth cattle judging competition demonstrates our relentless drive to uplift this sector,” he stated.

Chapman congratulated the recognized winners and commended Agra for spearheading this initiative and ensuring inclusivity.