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Building a resilient farming business

Ellanie Smit
The best way to build a resilient farming business is through the constant acquisition of knowledge and skills that can be integrated into the business to ensure that productivity is maintained.

According to Agribank’s technical advisor for crops and poultry, Hanks Saisai, farmers should make a point of it to check market trends to establish business ventures that can address market needs. This way, they will have a business that remains resilient even during trying times.

Farmers in Namibia face numerous challenges, he said, including climate change, which is evident in the erratic rainfall, droughts and crop and livestock losses.

Saisai said navigating the early days of 2024, farmers are encouraged to create resolutions that can transform their farming businesses into resilient enterprises.

With livestock farming being the predominant business in Namibia, it is crucial to implement coping strategies that are resilient to climate change and other challenges, even at household level, he said.

“At communal level, farmers can venture into cultivated pastures where they can each dedicate 2 500 square metres to growing perennial grasses such as wool and blue buffalo grass.”

Saisai said this can serve as a reserve base for a farmer’s most valuable group of livestock.

As bush encroachment expands on communal grazing areas in Namibia, exploring the concept of bush thinning for fodder production can be beneficial for livestock groups such as goats that are browsers. This will allow grazing areas to naturally recover grazing values, he added.

Enterprise diversification

Secondly, farmers must realise the importance of farm enterprise diversification, the technical advisor said.

According to him, diversification offers a farmer multiple streams of income that can be used to sustain the main business enterprise.

“This offers a way to generate additional income and reduce the risk of relying solely on one source of income.”

Saisai said another way for one to build a sustainable and resilient farming business is to always put some money aside for rainy days.

“During prosperous years, farmers often fail to plan their finances and end up spending their profits on non-business-related expenses, instead of reinvesting them into their farms.”

Here, he used a livestock enterprise on a commercial farm as an example: If it produces about 90 to 140 weaner calves in a year, it is essential to keep 60% of that revenue saved up for years when the enterprise will be at its lowest.

Production efficiency

“As a crop farmer, during years with a good harvest, it is possible to save some of the profits from selling maize grains and reinvest them into the business,” Saisai said.

One way of doing this is by purchasing machinery that can improve production efficiency.

He noted that, ideally, at the beginning of each year, farmers should review their production and financial records.

This review process will help them plan for the income generated in the previous year and determine how to allocate their funds towards key production objectives, he said.

“By doing so, farmers can ensure that their business thrives - regardless of any unforeseen circumstances.”

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Republikein 2024-02-25

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H.E. Dr Nangolo Mbumba, President of the Republic of Namibia says they will continue to pursue the second struggle of Namibia Zambian President, Hakainde Hichilema said one road will be named after the late president in Lusaka and the other road will be named after the founding president of Namibia The late President Hage Geingob’s casket was stationed at the Eternal Flame before he was taken to his final resting place The casket will of the late president was lowered with a 21 gun salute Accoutrements will be handed over to the former first lady of Monica Geingos An official luncheon by invitation is scheduled to take place at 14:00 at the State House The foreign dignataries are currently paying their last tribute to the former first lady, Monica Geingos Heroes Acre will be closed to the public, the National Council will announce once it is reopenedSix Nations: Scotland 30 vs 21 England | Ireland 31 vs 7 Wales Premier League: Arsenal 4 vs 1 Newcastle | Bournemouth 0 vs 1 Manchester City | Brighton 1 vs 1 Everton | Crystal Palace 3 vs 0 Burnley | Aston Villa 4 vs 2 Forest | Manchester United 1 vs 2 Fulham | Chelsea 0 vs 0 Tottenham Hotspur LaLiga: Almería 2 vs 2 Atletico Madrid | Deportivo Alaves 1 vs 1 Mallorca | Barcelona 4 vs 0 Getafe | Granada 0 vs 0 Valencia | Real Sociedad 1 vs 3 Villarreal SerieA: Juventus 3 vs 2 Frosinone | Genoa 2 vs 0 Udinese | Salernitana 0 vs 2 Monza | Sassuolo 2 vs 3 Empoli | Bologna 2 vs 0 Hellas Verona | Torino 0 vs 2 SS Lazio European Championships Qualifying: Watford 1 vs 2 Huddersfield Town | Ipswich Town 3 vs 1 Birmingham City | Sunderland 1 vs 2 Swansea City | Blackburn Rovers 1 vs 1 Norwich City | Southampton 1 vs 2 Millwall FC | Cardiff City 2 vs 1 Stoke City | Queens Park Rangers 2 vs 1 Rotherham United | Sheffield Wednesday 2 vs 1 Bristol City | Middlesbrough 0 vs 2 Plymouth Argyle | Hull City 1 vs 1 West Bromwich Albion | Leeds United 3 vs 1 Leicester City | Coventry City 0 vs 3 Preston North End English Championship: Watford 1 vs 2 Huddersfield Town | Ipswich Town 3 vs 1 Birmingham City | Sunderland 1 vs 2 Swansea City | Blackburn Rovers 1 vs 1 Norwich City | Southampton 1 vs 2 Millwall FC | Cardiff City 2 vs 1 Stoke City | Queens Park Rangers 2 vs 1 Rotherham United | Sheffield Wednesday 2 vs 1 Bristol City | Middlesbrough 0 vs 2 Plymouth Argyle | Hull City 1 vs 1 West Bromwich Albion | Leeds United 3 vs 1 Leicester City | Coventry City 0 vs 3 Preston North End Katima Mulilo: 22° | 41° Rundu: 22° | 40° Eenhana: 22° | 37° Oshakati: 23° | 36° Ruacana: 19° | 36° Tsumeb: 24° | 37° Otjiwarongo: 22° | 34° Omaruru: 21° | 36° Windhoek: 22° | 32° Gobabis: 22° | 35° Henties Bay: 16° | 19° Wind speed: 21km/h, Wind direction: S, Low tide: 10:10, High tide: 04:15, Low Tide: 22:13, High tide: 16:26 Swakopmund: 16° | 17° Wind speed: 25km/h, Wind direction: SW, Low tide: 10:08, High tide: 04:13, Low Tide: 22:11, High tide: 16:24 Walvis Bay: 16° | 21° Wind speed: 30km/h, Wind direction: SW, Low tide: 10:08, High tide: 04:12, Low Tide: 22:11, High tide: 16:23 Rehoboth: 20° | 34° Mariental: 20° | 36° Keetmanshoop: 19° | 35° Aranos: 20° | 36° Lüderitz: 14° | 30° Ariamsvlei: 16° | 34° Oranjemund: 13° | 26° Luanda: 26° | 28° Gaborone: 21° | 39° Lubumbashi: 18° | 26° Mbabane: 14° | 20° Maseru: 10° | 32° Antananarivo: 15° | 27° Lilongwe: 18° | 30° Maputo: 21° | 26° Windhoek: 22° | 32° Cape Town: 16° | 25° Durban: 18° | 22° Johannesburg: 19° | 32° Dar es Salaam: 27° | 33° Lusaka: 18° | 34° Harare: 18° | 33° Currency: GBP to NAD 24.4 | EUR to NAD 20.87 | CNY to NAD 2.68 | USD to NAD 19.28 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.35 | EGP to NAD 0.62 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.83 | ZWL to NAD 0.04 | BRL to NAD 3.86 | RUB to NAD 0.21 | INR to NAD 0.23 | USD to DZD 134.44 | USD to AOA 828.51 | USD to BWP 13.77 | USD to EGP 30.85 | USD to KES 144.98 | USD to NGN 1488.4 | USD to ZAR 19.29 | USD to ZMW 22.95 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 74213.39 Up +0.14% | Namibian Stock Exchange (NSX) Overall Index 1551.37 Up +0.01% | Casablanca Stock Exchange (CSE) MASI 13083.17 Up +0.74% | Egyptian Exchange (EGX) 30 Index 29309.73 Up +0.06% | Botswana Stock Exchange (BSE) DCI 9001.84 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 035.38/OZ UP +0.52% | Copper US$ 3.86/lb DOWN -0.0073 | Zinc US$ 2 432.00/T UP 0.13% | Brent Crude Oil US$ 81.72/BBP DOWN -0.0194 | Platinum US$ 900.85/OZ DOWN -0.0011 Sport results: H.E. Dr Nangolo Mbumba, President of the Republic of Namibia says they will continue to pursue the second struggle of Namibia Zambian President, Hakainde Hichilema said one road will be named after the late president in Lusaka and the other road will be named after the founding president of Namibia The late President Hage Geingob’s casket was stationed at the Eternal Flame before he was taken to his final resting place The casket will of the late president was lowered with a 21 gun salute Accoutrements will be handed over to the former first lady of Monica Geingos An official luncheon by invitation is scheduled to take place at 14:00 at the State House The foreign dignataries are currently paying their last tribute to the former first lady, Monica Geingos Heroes Acre will be closed to the public, the National Council will announce once it is reopenedSix Nations: Scotland 30 vs 21 England | Ireland 31 vs 7 Wales Premier League: Arsenal 4 vs 1 Newcastle | Bournemouth 0 vs 1 Manchester City | Brighton 1 vs 1 Everton | Crystal Palace 3 vs 0 Burnley | Aston Villa 4 vs 2 Forest | Manchester United 1 vs 2 Fulham | Chelsea 0 vs 0 Tottenham Hotspur LaLiga: Almería 2 vs 2 Atletico Madrid | Deportivo Alaves 1 vs 1 Mallorca | Barcelona 4 vs 0 Getafe | Granada 0 vs 0 Valencia | Real Sociedad 1 vs 3 Villarreal SerieA: Juventus 3 vs 2 Frosinone | Genoa 2 vs 0 Udinese | Salernitana 0 vs 2 Monza | Sassuolo 2 vs 3 Empoli | Bologna 2 vs 0 Hellas Verona | Torino 0 vs 2 SS Lazio European Championships Qualifying: Watford 1 vs 2 Huddersfield Town | Ipswich Town 3 vs 1 Birmingham City | Sunderland 1 vs 2 Swansea City | Blackburn Rovers 1 vs 1 Norwich City | Southampton 1 vs 2 Millwall FC | Cardiff City 2 vs 1 Stoke City | Queens Park Rangers 2 vs 1 Rotherham United | Sheffield Wednesday 2 vs 1 Bristol City | Middlesbrough 0 vs 2 Plymouth Argyle | Hull City 1 vs 1 West Bromwich Albion | Leeds United 3 vs 1 Leicester City | Coventry City 0 vs 3 Preston North End English Championship: Watford 1 vs 2 Huddersfield Town | Ipswich Town 3 vs 1 Birmingham City | Sunderland 1 vs 2 Swansea City | Blackburn Rovers 1 vs 1 Norwich City | Southampton 1 vs 2 Millwall FC | Cardiff City 2 vs 1 Stoke City | Queens Park Rangers 2 vs 1 Rotherham United | Sheffield Wednesday 2 vs 1 Bristol City | Middlesbrough 0 vs 2 Plymouth Argyle | Hull City 1 vs 1 West Bromwich Albion | Leeds United 3 vs 1 Leicester City | Coventry City 0 vs 3 Preston North End Weather: Katima Mulilo: 22° | 41° Rundu: 22° | 40° Eenhana: 22° | 37° Oshakati: 23° | 36° Ruacana: 19° | 36° Tsumeb: 24° | 37° Otjiwarongo: 22° | 34° Omaruru: 21° | 36° Windhoek: 22° | 32° Gobabis: 22° | 35° Henties Bay: 16° | 19° Wind speed: 21km/h, Wind direction: S, Low tide: 10:10, High tide: 04:15, Low Tide: 22:13, High tide: 16:26 Swakopmund: 16° | 17° Wind speed: 25km/h, Wind direction: SW, Low tide: 10:08, High tide: 04:13, Low Tide: 22:11, High tide: 16:24 Walvis Bay: 16° | 21° Wind speed: 30km/h, Wind direction: SW, Low tide: 10:08, High tide: 04:12, Low Tide: 22:11, High tide: 16:23 Rehoboth: 20° | 34° Mariental: 20° | 36° Keetmanshoop: 19° | 35° Aranos: 20° | 36° Lüderitz: 14° | 30° Ariamsvlei: 16° | 34° Oranjemund: 13° | 26° Luanda: 26° | 28° Gaborone: 21° | 39° Lubumbashi: 18° | 26° Mbabane: 14° | 20° Maseru: 10° | 32° Antananarivo: 15° | 27° Lilongwe: 18° | 30° Maputo: 21° | 26° Windhoek: 22° | 32° Cape Town: 16° | 25° Durban: 18° | 22° Johannesburg: 19° | 32° Dar es Salaam: 27° | 33° Lusaka: 18° | 34° Harare: 18° | 33° Economic Indicators: Currency: GBP to NAD 24.4 | EUR to NAD 20.87 | CNY to NAD 2.68 | USD to NAD 19.28 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.35 | EGP to NAD 0.62 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.83 | ZWL to NAD 0.04 | BRL to NAD 3.86 | RUB to NAD 0.21 | INR to NAD 0.23 | USD to DZD 134.44 | USD to AOA 828.51 | USD to BWP 13.77 | USD to EGP 30.85 | USD to KES 144.98 | USD to NGN 1488.4 | USD to ZAR 19.29 | USD to ZMW 22.95 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 74213.39 Up +0.14% | Namibian Stock Exchange (NSX) Overall Index 1551.37 Up +0.01% | Casablanca Stock Exchange (CSE) MASI 13083.17 Up +0.74% | Egyptian Exchange (EGX) 30 Index 29309.73 Up +0.06% | Botswana Stock Exchange (BSE) DCI 9001.84 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 035.38/OZ UP +0.52% | Copper US$ 3.86/lb DOWN -0.0073 | Zinc US$ 2 432.00/T UP 0.13% | Brent Crude Oil US$ 81.72/BBP DOWN -0.0194 | Platinum US$ 900.85/OZ DOWN -0.0011