Berea, June 26—The Lesotho Post Bank (LPB) through its Agricultural Financing Unit has on Friday encouraged Berea farmers to use their Tractors Finance Promotion in order to access the farm machinery in order to enhance their productivity.
This emerged during the road show staged at Berea District Agricultural Office (DAO) held with the purpose to help farmers to explore access to finance that can unlock their opportunities to secure the latest agricultural innovation and farm machinery for work efficiency.
When addressing farmers, LPB Agricultural Financing Unit representative, Mr. Lebona Leokaoke said the tractor financing initiative dates back to 2021 whereby the government provided LPB with the money amounting to M50 million aimed to finance farmers to buy farm machinery like tractors, whereby among the prerequisite for a farmers was to come along with 10 percent of the money they want to use, while the government support with 30 percent and LPB come with 60 percent.
Mr. Leokaoke said despite such government’s commitment to increase investment in agriculture by helping farmers to procure the farming inputs, such good initiative was under-utilized whereby only 76 farmers were assisted to secure farm machinery through the Tractors Finance Promotion.
He further said late last year the government, again injected M200 million with the same objective of assisting farmers to farm machinery, but ever since they resumption of the processes of helping farmers, since January up now they only have 92 farmers country wide whom their requests have so far been approved, while also awaiting their machinery to arrive.
“Out of such request pending approval, Berea district only account for 15 farmers and out that two farmers have luckily secured their tractors”, he said.
In that regard, Mr. Leokaoke further refuted allegations that people who only access such kind of supports are politicians or those who have other shady connections, reaffirming that they are open to anyone who has an interest to apply, provided they meet the requirements.
Therefore, he explained that the usage of farming technology has become essential in navigating the future of farming, hence the motive behind organizing such road show with the aim to shed more light to farmers that everything is possible, provided they have courage of tapping into tractors financing opportunity in order to change their lives.
He pointed out that among the new developments on the tractors financing promotion, includes the incorporation of irrigation system, harvesting activities, walk behind tractors and wide range of farming machinery, further highlighting that it is no longer a must for farmers to pay an upfront of 10 percent, but the bank loan them with 70 percent, while the government provides 30 percent.
Mr. Leokaoke stressed for a farmer to secure tractor financing promotion, among the prerequisite is to have the fields with proper land ownership documentation and some projections of harvest on such land.
Representing Agri Solution Centre as one of the company that assembles tractors in the country, Mr. Khoase Kolobe reaffirmed that they on the move to revive agriculture and through this partnership with LPB, they provide brand new tractors to farmers who have secured a tractor financing deal with the LPB.
Mr. Kolobe said for the sustainability of such tractors, they come with the two years warranty, highlighting that within that period they have some responsibilities which allow them to provide some after care services and maintenance issues.
Meanwhile, the DAO Mrs. Malerato Lekhooa acknowledged the organizers of the road show for taking an initiative to unite with farmers, citing that it has left them with a wealth of knowledge regarding the tractor financing promotion.
Mrs. Lekhooa said for the fact that they Berea district currently have 15 farmers whom their requests have been approved, marks a milestone of development and that is a clear indication to farmers who always doubt such opportunities to reconsider applying if they aim to transform their farming lifestyle.
Also approached for a comment, one of the farmers who attended the road show, Mrs. Mamoshaonyane Mohapi expressed gratitude by saying the campaign has revived their hopes of making an impact in agriculture.
However, Mrs. Mohapi blamed the organisers on allocating limited time for the road show, further saying they were willing to have a visual contact with some which machinery were mention during the presentations.
Another upcoming farmer, Mr. Matheka Thabiso Qathatsi said unlike in schools where agriculture was used as a platform to punish students, the roadshow has reminded them that beyond positioning agriculture as the key as a key driver to the sustainable food security and economic growth, it is also a sector that can constitute to job creation.
Mr. Qathatsi indicated that they feel grateful to have a closer session with the tractors dealership and the bank as a financing sector, therefore that initiative has opened their eyes that to secure the tractor is not about the competition, but it takes courage.
Apart from the farmers, among the sectors which graced the event were seed producers, fodder makers and farm feed and the insurance companies.
Ends/RM
