FIRST National Bank is now offering financial services for farmers and people involved in the agricultural sector.
Launching this new range of service products at the Windhoek Show this week, FNB Group Managing Director Vekuii Rukoro said the importance of the rural economy should not be underestimated. “The formal agriculture sector employs roughly 30 per cent of the country’s total workforce and over 70 per cent of the total population derive their livelihood from this sector,” he said.”The FNB Agri Division was created to assist farmers across the full spectrum, from the less privileged communal farmers who want to become more commercial to well-established farmers who now want to take their farming business to the next level,” Rukoro said.An internal survey brought to light that FNB branches in the different regions depended to a great extent on agriculture, directly or indirectly, Rukoro added.”It would thus be negligent if we did not provide financial services to this sector.”As a result, the Agri Division was set up.According to Environment and Tourism Minister Willem Konjore, farming these days requires more skills and expertise and more cash investments – often a huge burden to new entrants to the sector.”It is commendable that FNB has realised the importance of agriculture in our sector and its potential to contribute more to our economy,” the Minister stated at the launch.”The new Agri Division will provide customised and appropriate financing solutions to our farmers who mostly experience difficulty in raising capital.”The new division is managed by Oliver Horsthemke, with Christof Mate, Boetie Snyman and Wylie Upi as team members.Loans offered range from one to five years or ten to twenty years.Crop finance loans against crops to be planted are also available, as well as retirement and insurance services tailored to the needs of farmers.”The formal agriculture sector employs roughly 30 per cent of the country’s total workforce and over 70 per cent of the total population derive their livelihood from this sector,” he said.”The FNB Agri Division was created to assist farmers across the full spectrum, from the less privileged communal farmers who want to become more commercial to well-established farmers who now want to take their farming business to the next level,” Rukoro said.An internal survey brought to light that FNB branches in the different regions depended to a great extent on agriculture, directly or indirectly, Rukoro added.”It would thus be negligent if we did not provide financial services to this sector.”As a result, the Agri Division was set up.According to Environment and Tourism Minister Willem Konjore, farming these days requires more skills and expertise and more cash investments – often a huge burden to new entrants to the sector.”It is commendable that FNB has realised the importance of agriculture in our sector and its potential to contribute more to our economy,” the Minister stated at the launch.”The new Agri Division will provide customised and appropriate financing solutions to our farmers who mostly experience difficulty in raising capital.”The new division is managed by Oliver Horsthemke, with Christof Mate, Boetie Snyman and Wylie Upi as team members.Loans offered range from one to five years or ten to twenty years.Crop finance loans against crops to be planted are also available, as well as retirement and insurance services tailored to the needs of farmers.
