09 May 2024

The agricultural sector is critical to the economic success of every nation as it addresses the most basic human and physiological need of nourishment.

This was said by Botswana Savings Bank (BSB) chief executive officer, Mr Nixon Marumola at the Tonota Tutume and Masunga (TOTUMA) Agricultural Arable Commercial Farmers Association field day in Tonota on Tuesday.

Mr Marumola said the impact of the agricultural sector was most felt within the middle to low-income communities of the globe, where lack of access to quality food, unemployment, income disparities and poverty were always prevalent.

He said the farmers’ field day was thus timely and aligned with government’s strategic initiatives.

“Government, under the Ministry of Agriculture recently introduced even more programmes geared towards ensuring food security and strategic national security. Examples include Temo Letlotlo, Thuo Letlotlo, amongst a long line of such programmes, which have included LIMID, ISPAAD, ALDEP,” he said.

Mr Marumola further said the agricultural sector was the backbone of the nation, adding Botswana was built off the strong backs of dedicated men and women who tended livestock and tilled the ground.

“Food will always come first in the daily basic needs of life. There is no family meal, funeral or wedding celebration that can take place without the tireless efforts of the humble farmer.

Even our own local University of Botswana was financed in part, by farmers through the Motho le Motho Kgomo initiative. It is a tragedy that this great legacy by the Motswana farmer is often overlooked,” he said.

He said BSB offered a wide range of financial services products including personal, car and mortgage loans as well as normal savings and corporate savings accounts, with tax free interest earned.

“As the financial landscape continues to evolve, embracing innovation and customer centricity remains imperative. The bank recently reviewed its Lecha personal loan limit from P500 000 which is payable over seven years to P750 000 now payable over 10 years,” he said.

He said the approach not only met the evolving financial needs of clients, but also provided distinct competitive advantage.

In his welcome remarks, Kgosi Bokamoso Radipitse of Tonota underscored the vital role of agriculture in the country’s economy.

He however, expressed concern about the lack of interest in agriculture amongst young people and therefore called for greater youth participation in the sector. ENDS