First National Bank of Botswana (FNBB) is committed to helping farmers in Botswana thrive by offering innovative solutions designed to help them manage the production, marketing and incidental risks associated with a farming business.
The Bank says it recognizes the importance of agriculture in economic diversification and its contribution to poverty eradication and food security.
Mark Rijntjes, FNBB Head of Agriculture and Tourism said “The Bank has a number of specialised financial services and solutions to meet the dynamic requirements of the agricultural sector.
Our services to the agriculture businesses are extensive and we have a proven track record in the business and commercial markets in this country, and by combining this with a new focus on agricultural financing, we are able to provide relevant products and services to agricultural businesses”.
To provide for payments, FNBB has since introduced business current accounts, which also facilitate overdrafts to finance short-term cash flow requirements and production finance. “Agricultural loans can be used to purchase farmland and finance capital improvements, or to establish specific enterprises such as dairy farms or piggeries.
Agricultural loans have variable terms and flexible repayment periods. Some of FNBB’s agricultural solutions include Agricultural Project Loans, Agricultural Short-Term Loans, Agricultural Long-Term Loans and Vehicle and Asset Finance.”
Rijntjes says because of its commitment to agribusiness, portfolio of agricultural production loans has grown in both volume and quality. “The Bank has a diversified agricultural lending book and it is spread across various activities including livestock/beef production & game farming in Ghanzi and the sandveld, horticulture in Tuli Block and arable crop production in the Pandamatenga area,” he says.
FNBB, through its Ghanzi branch was amongst the exhibitors at this year’s Ghanzi Agricultural Show which was held on June 22-23rd. The Bank scooped second prize in the business stalls category which showcased the different products on offer such as WesBank finance, SMME and personal banking.
The highlight of the products showcased was the Agricultural solutions. “FNBB’s involvement in the Ghanzi show was not only confined to the exhibition. The Bank also sponsored the construction of some of the livestock kraals to the tune of P90, 000. Also this year, the Bank participated in the Padamatenga show, the Serowe Trade Fair and the Mmusi Agricultural show in an effort to bring Agricultural solutions to the farming community.”