Finances Kwenantle Farmers with P27 Million for solar and irrigation project
Stanbic Bank Botswana has financed Kwenantle farmers with P27 million for a solar and irrigation project.
The multi million investment covers the erection of a 1MW solar-plant to power irrigation systems on a new 264-hectare expansion at Talana Farms in the Tuli Block.
As a result, the total land under irrigation is set to increase to 839 hectares with 29 pivots to provide Kwenantle an energy saving of approximately P1.6m per annum and employment increase from 104 permanent employees to 154
The investment marks a significant stride towards attaining sustainable green technology agriculture in Botswana.
It is through this support that Kwenantle Farmers are setting a new standard in sustainable agriculture with an impressive growth from P8 million turnover in 2017 to P25 million in 2022.
However new projections indicate a target of P100 million in revenue in the next five years which showcases the power of innovation and commitment
Speaking at the event, Assistant Minister of Agriculture, Molebatsi Molebatsi applauded the bank’s support for agri-businesses throughout the country, which plays a pivotal role in promoting the national agenda focused on agriculture, sustainability, and innovation.
“ The bank’s presence in this sector is highlighted by its many partnerships, which demonstrate its dedication to encouraging growth and innovation. Notably, the collaboration with Botswana University of Agriculture and Natural Resources (BUAN) provides students with a unique chance to participate in a profit-sharing model, alongside its support for events such as the Botswana Boer Goat and Dorper Breeders, Society Show and the National Agric Show, among other recent agricultural initiatives,’’ said Molebatsi.
Meanwhile Stanbic Bank Botswana, Head of Business and Commercial Banking, Lesego Osman said the bank is committed to advancing sustainable development and improving the livelihoods of Batswana and the communities they operate in.
“This initiative highlights our dedication to driving economic empowerment and environmental sustainability and by supporting Kwenantle farmers in adopting green energy solutions, we are not only contributing to the growth of the agricultural sector but also to the broader goal of reducing Botswana’s carbon footprint,” said Osman.
The relationship between Stanbic Bank and Kwenantle began in 2016, when only 78 hectares were being cultivated.
However for now the collaboration has resulted in 575 hectares of land under full irrigation with 24 pivots. Once the solar project is complete, a total of 839 hectares will be tilled.
Kwenantle Farms have been a steadfast leader in cereal production, focusing primarily on cereal crops such as maize, wheat lucerne and sugar beans, which are mainly supplied to the Botswana Agricultural Marketing Board and other private millers.
