{"id":21806,"date":"2022-06-09T11:31:08","date_gmt":"2022-06-09T11:31:08","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/dbn-finances-agri-enterprises-to-increase-food-security"},"modified":"2022-06-09T11:48:57","modified_gmt":"2022-06-09T11:48:57","slug":"dbn-finances-agri-enterprises-to-increase-food-security","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/dbn-finances-agri-enterprises-to-increase-food-security","title":{"rendered":"DBN finances agri-enterprises to increase food security"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>The Development Bank of Namibia has clarified its role and participation in agricultural finance, stressing that finance for direct agricultural investments is a mandate held by Agribank, but that Development Bank can provide finance for agri-enterprise.<\/p>\n

This was explained by the institution\u2019s spokesperson, Jerome Mutumba.<\/p>\n

Explaining DBN\u2019s definition of direct agriculture, Mutumba said it entails finance for land and agricultural inputs.<\/p>\n

However, agri-enterprise, he noted, consists of adding secondary value to agricultural operations, as well as resource transformation of agricultural produce.<\/p>\n

\u201cDevelopment Bank will consider finance for agri-enterprise,\u201d said Mutumba.<\/p>\n

He went on to split the Bank\u2019s finance for agri-enterprise into three distinct fields.<\/p>\n

Firstly, he stated, agri-industry is an enterprise activity that manufactures products to support agriculture, such as fertilisers and feeds.<\/p>\n

This category might also include professional services to agriculture, such as veterinary services, welding and fabricating as well as mechanical repairs, he continued, further alluding to the Bank\u2019s skills-based finance for young professionals and artisans.<\/p>\n

Secondly, agri-processing consists of transforming and marketing the products of stock farming and horticulture, with finance for items such as mills, feedlots, abattoirs, dairies, processing facilities as well as transport and logistics assets.<\/p>\n

Thirdly, Mutumba points to the bank\u2019s climate adaptation facility.<\/p>\n

Infrastructure financed under this facility might include solar power, water storage and water distribution for larger agricultural enterprises.<\/p>\n

\u201cDBN has a strong track record in the field of agri-enterprise, including finance for abattoirs, feedlots, dairy production and milling plants. The bank sees agri-enterprise as a growth area,\u201d Mutumba quipped.<\/p>\n

Elaborating on the bank\u2019s rationale for participation in the field of agri-enterprise, Mutumba said Namibia has prioritised food security since its inception through manufacturing, as well as long-standing support to commodity level processing such as milling.<\/p>\n

He added with the supply chain crisis and the current pressure on grain and oil used in food preparation, support for agri-enterprise is more important than ever before.<\/p>\n

\u201cGiven Namibia\u2019s challenge to substitute grain and cooking oil production, it has become all the more important to find means to stimulate the production of local foodstuffs that can be used as nutritional substitutes for imported agricultural commodities,\u201d said Mutumba. Given the reported waste of approximately 45% of horticultural foodstuff due to a shortage of processing and packaging, he continued, finance for value addition, through manufacturing, and transport and logistics can also enhance food security.<\/p>\n

At the same time, he acknowledged the challenges faced by smaller farmers but said the bank advocates that networks of small farmers establish companies in which they are shareholders to spread collateral and owner\u2019s contribution requirements, as well as to ensure consistent and sufficient supply of produce is available.<\/p>\n

Mutumba elaborated that with Agribank\u2019s finance for direct agriculture, the Namibia Agronomic Board\u2019s Market Share Promotion mechanism to drive local horticultural supply chains and the Development Bank\u2019s finance for food manufacturing, the country has a strong basis for enh \u201cThere is a sound institutional environment that supports agriculture.\u201d<\/p>\n

If you are in the field of agri-processing or any form of value addition to agricultural produce and have a viable business plan, approach Development Bank to see how we can support your growth, Mutumba concluded.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. The Development Bank of Namibia has clarified its role and participation in agricultural finance, stressing that finance for direct agricultural investments is a mandate held by Agribank, but that Development Bank can provide finance for agri-enterprise. This was explained by the institution\u2019s spokesperson, Jerome Mutumba. Explaining DBN\u2019s definition of direct agriculture, Mutumba […]<\/p>\n","protected":false},"author":84,"featured_media":21805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-21806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nDBN finances agri-enterprises to increase food security - Namibia<\/title>\n<meta name=\"description\" content=\"The Development Bank of Namibia has clarified its role and participation in agricultural finance, stressing that finance ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/dbn-finances-agri-enterprises-to-increase-food-security\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DBN finances agri-enterprises to increase food security\" \/>\n<meta property=\"og:description\" content=\"The Development Bank of Namibia has clarified its role and participation in agricultural finance, stressing that finance ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/dbn-finances-agri-enterprises-to-increase-food-security\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-09T11:31:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-09T11:48:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/06\/postQueueImg_19-62a1de15f2e91.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/dbn-finances-agri-enterprises-to-increase-food-security#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/dbn-finances-agri-enterprises-to-increase-food-security\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"DBN finances agri-enterprises to increase food security\",\"datePublished\":\"2022-06-09T11:31:08+00:00\",\"dateModified\":\"2022-06-09T11:48:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/dbn-finances-agri-enterprises-to-increase-food-security\"},\"wordCount\":550,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/dbn-finances-agri-enterprises-to-increase-food-security#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/06\/postQueueImg_19-62a1de15f2e91.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/dbn-finances-agri-enterprises-to-increase-food-security#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/dbn-finances-agri-enterprises-to-increase-food-security\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/dbn-finances-agri-enterprises-to-increase-food-security\",\"name\":\"DBN finances agri-enterprises to increase food security - 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