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Cattle Boom Fuels Namibia’s Agricultural Sector

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The Namibian livestock and meat industry has experienced a significant surge, particularly in the cattle sector, which saw a remarkable 47.9% growth rate during the first quarter of 2024. However, the industry faces pressing challenges due to limited rainfall and escalating input costs.

James Chapman, Bank Windhoek’s Executive Officer for Retail Banking Services and Specialist Finance, highlighted these trends at the recent Agra Weaner Championship Gala. While the industry thrives, the looming threat of drier conditions casts a shadow over the future.

“Cattle farming is a cornerstone of Namibia’s economy, contributing approximately 5.1% to the country’s GDP,” Chapman emphasized. “Bank Windhoek is proud to support this vital sector through our investment of N$1.6 million in Agra.”

The Agra Weaner Championship Gala celebrated excellence in cattle production, recognizing regional and national winners. The event, sponsored by Bank Windhoek, showcased the best animals produced in the country and assisted farmers in securing better prices at auctions.

Ismael Ouseb, a regional winner from Outjo, expressed his delight at the success of his Brahman and Braunvieh cattle, despite the challenging climatic conditions. He attributed his success to consistent participation in weaner auctions and the valuable experience gained.

Arnold Klein, CEO of Agra, acknowledged the difficulties faced by both producers and the organization. He emphasized Agra’s commitment to facilitating the weaner series and supporting farmers in achieving better prices for their livestock.

Bank Windhoek remains dedicated to empowering Namibian farmers through financial solutions, expert advice, and partnerships with key players like John Deere. The bank has allocated N$25 million towards agricultural projects, demonstrating its commitment to the sector’s growth and sustainability.

As Namibia’s agricultural sector navigates these challenging times, the support of key stakeholders like Bank Windhoek and Agra is crucial in ensuring its continued prosperity and resilience.