Technology moves at the speed of light, but some people get left behind. The trick is to make sure you can access the latest innovation and are able to apply it in a meaningful way on your farm.
One of the pillars of businesses and farming operations is technology. However, there are certain things a farmer needs to consider before bringing it into his operation. In the latest episode of African Farming, aired on Honey (DStv, channel 173, Tuesday at 17:00), Nico Groenewald from Standard Bank gives advice on how to incorporate it into you farming practices.
“When you go to Nampo and see the impressive technology available today, you run the risk of thinking it is only used in mechanical farming equipment, but its application is much wider these days,” says Groenewald.
“You can easily make the mistake of getting technology that is not the right fit for your business. Then you sit with an investment that does not give you optimal returns. Therefore, it is important that you understand your business, where it is in its life cycle, what technology is available, and then make sure it actually contributes to the success of your business and is not just a nice-to-have.”
Banking with technology
Standard Bank has the ability to bring technology into play for agribusinesses.
“Banks rely heavily on it to conduct their business. The use of technology such as cell phones and internet banking are common these days. Add to that platforms that facilitate foreign currency transactions for farmers who import or export products, and the role of technology becomes clear.”
Standard Bank also provides information digitally regarding the latest trends in agriculture.
“Recently, we added a platform called OneFarm Share,” says Groenewald.
On its website, Standard Bank describes OneFarm Share as a platform that they run in partnership with HelloChoice. At its core it is a digital match-maker for food requests from registered charitable organisations and available fresh produce. It gives larger-scale commercial farmers, with produce that is not-to-spec or excess to offtake contracts, an opportunity to donate or sell it at a reduced price. This significantly reduces food waste, alleviate hunger, and has a positive impact on the environment.
“We are also looking at satellite technology in Africa and how we can incorporate that into what we do from a banking perspective to monitor and track production loan crops.”
For more information, visit https://www.standardbank.co.za/southafrica/business/products-and-services/business-solutions/industry/agribusiness
