24 Nov 2020

National Development Bank (NDB) Palapye branch Manager, Ms Oaitse Mudlovu says her bank has loans tailor-made to empower the local agricultural industry and boost farmers  to produce enough to feed the nation. 

Speaking during the ongoing Mahalapye Sub-district Council meeting, Ms Mudlovu said their two agricultural loans Temo Bokamoso Loan and Ntlhatlosa Kwa Morakeng Loan were designed to help Batswana to be self-sufficient in food production.

Ms Mudlovu explained that Ntlhatlosa Kwa Morakeng helped farmers to purchase breeding stock, as well as with borehole drilling and equipping.

“Purchase of farm equipment, cattle feeds and medication can be done through this type of a loan,” she explained.

She stated that Temo Bokamoso Loan finance aimed to enhance arable farming. With Temo Bokamoso Loan, Ms Mudlovu said that farmers would be able to buy fields, purchase farm machinery and implements, adding that the loan had an insurance called Agricultural Credit Guarantee Scheme (ACGS) in case of drought.

 The insurance depends on how badly the area has been affected by drought, Ms Mudlovu stated, adding  that the maximum repayment period for the two loans was seven years and the loans ranged from P10 000 to P500 000. The loans were paid monthly, deducting from one’s salary.

She also explained that they also offered Bonno Home Loan, to enable customers to buy or build homes with maximum repayment period of 25 years, depending on the customer’s year of retirement. ENDS