The livestock and meat industry experienced an uptick in marketing activities during the first quarter of 2024, notably the cattle sector, which recorded a remarkable growth rate of 47.9%.
Bank Windhoek’s executive officer for retail banking services and specialist finance James Chapman shared these figures with farmers during the recent Agra Weaner Championship Gala in Windhoek.
He said despite this growth, limited rainfall during this period, combined with high input costs, challenged the sustainability of the agricultural sector.
He stated that as farmers prepare for drier conditions for the remainder of the season, the 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, with 70% of that output originating from the livestock sub-sector. We are proud to announce that Bank Windhoek’s total investment towards Agra has been N$1.6 million to date, underpinning our commitment to supporting this vital industry,” he said.
Following the conclusion of the 13th edition of the Agra Weaner Championship Series, the Agra Weaner Championship Gala was held to announce regional and national winners, while rewarding and celebrating excellence in cattle production across Namibia, with Bank Windhoek as its main sponsor.
Through its longstanding partnership with Agra, Bank Windhoek established a platform that fosters growth and prosperity for farmers, and recognises Agra as a proudly Namibian entity that complements 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 witnessed 18 auctions held nationwide, including communal farmers in Aminuis, Okondjatu, Talismanus and Okakarara.
Regional winner of the northern first prize in Outjo for the Veld Potential category Ismael Ouseb farms with large stock, including Brahman and Braunvieh cattle.
After participating in many weaner auctions and obtaining some prizes, he said: “This year has been exceptional for our cattle amidst the challenge of little rainfall received. We have won various categories, which has brought us to a national level. We look forward to participating in the next Weaner season”.
He added that Bank Windhoek is dedicated to offering 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 towards agricultural shows nationwide and the successful youth cattle judging competition demonstrates our relentless drive to uplift this sector,” he said.
Meanwhile, Agra’s CEO Arnold Klein agreed that the year has been challenging for producers and Agra.
“Through perseverance and commitment, we were able to navigate challenges. Agra facilitates the weaner series to showcase the best animals produced in the country while assisting farmers with negotiating better prices for animals at the auctions,” he said.