AgriBusiness

Stanbic Bank Botswana is committed to the development of agriculture and to adding value to your farming business. We have a range of specialised products and services, including the support of our agricultural advisers and business managers.

Services

Banking services 

  • Business account
  • Financing your farm developments
  • Overdraft
  • Business revolving credit plan
  • Business term loan
  • Asset finance
  • Savings and investments
  • Financial services
  • Crop, livestock and asset Insurance
  • Agricultural production loan
  • Asset finance
  • Savings and investments

Financial services

  • Crop, livestock and asset insurance

 

Financing your farming business

Business banking services

Our business account allows you to manage your finances without visiting a branch. You can do your banking by Internet, telephone, or with your cellphone.

How can we finance your farming business?

Agriculture is characterised by strong cyclical trends, we offer structured advances and loans, which take the effects of these cycles into account. Whether you need to buy new property, finance equipment or fund operating expenses, we have a solution to meet your needs, such as an overdraft, asset finance, business term loans or a business revolving credit plan.

  • Working capital should be financed with an overdraft
  • Fixed assets should be financed according to their economic life span
  • Movable assets should be financed by asset finance over the same or shorter period than the write-off period for tax purposes
  • Fixed property can be financed for up to 10 years with a medium-term loan. In this case, a bond is usually required as security.

1. Overdraft

An overdraft is a loan linked to your Business Current account that allows you to use as much as you need, up to your limit.

What does it offer me

  • It is quick and easy to arrange
  • The cash is available when you need it
  • You only pay interest on the amount you use, not on the full amount at which your limit is set.

2. Business Revolving Credit Plan

Business Revolving Credit Plan is a business loan and, as with an ordinary loan, you pay it off over five years or less-if you wish. You only pay interest on the amount you use. As soon as you have repaid 25% of the loan, you can withdraw funds up to the original limit without affecting your monthly repayments.

What does it offer me

  • The loan can be linked to your business account, so you can transfer funds electronically
  • You can redraw (up to the original amount) without having to reapply, as long as you have repaid 25% of what you owe on the original amount
  • It enables easy cash flow planning because of fixed monthly payments.

3. Agricultural Production Loan

Agricultural production loan is short-term credit that enables you to pay agricultural input costs. Around the country, farmers are using this type of loan for annual inputs for cash crops (grain and vegetables), annual and perennial crops, livestock and feedlot farming.

We provide these loans to groups and legal entities in the agricultural sector, including commercial farmers and agribusinesses. Input costs that qualify for production loans include:

Crops

  • Seeds and fertiliser
  • Fuel, oil and lubricants
  • Weed killers and pesticides
  • Repairs and maintenance
  • Crop insurance premiums
  • Electricity and water levies
  • Marketing costs, including initial margins in the case of futures trading

Livestock

  • Veterinary services, medication and dipping fluid
  • Fodder and animal feed
  • Artificial insemination
  • Fuel, oil and lubricants
  • Electricity and water levies
  • Livestock.

Your loan must be paid back in full at the end of each season, or at the latest a year after it was taken up. The loan limit depends on your risk profile. In assessing this, we will take into account any other medium- to long-term loans you have. Loan ceilings apply depending on your risk profile.

4. Asset finance

Vehicle and asset finance is the ideal way to finance all your farming vehicle and implement needs. We have a wide range of packages to suit your business’ cash flow and tax situation.

5. Investments

Whatever your investment needs, we offer you a wide choice in terms of access to your funds and the interest you earn. Our range of fixed-term savings accounts include:

  • Call deposit accounts
  • 32-day notice deposit accounts
  • Fixed deposit accounts.

Crop, livestock and asset insurance

1. Crop insurance

We have expanded our crop insurance offering to include all crops, not just grain. Fruit and vegetable farmers can now insure their crops against loss or damage caused by hail, wind, fire, while in transit and against riot damage, as well as multi-peril/input cover.

Types of insurance

Extended hail cover

It is insurance against crop losses resulting from hail wind, fire or excess rain damage, and while in transit. We also offer drought cover on certain crop types.

Multi-peril/input cover

In addition to the above risks, multi-peril cover includes damage caused by frost, excess rain, wild animals, uncontrollable plant sickness and insect damage, windstorms, extreme heat, floods, snow and cold.

Who can apply for crop insurance

Any farmer who grows crops on an area of 50 hectares or more. This cover is offered to small- and large-scale farmers, from a single type of crop to a number of different types of crops.

2. Livestock insurance

For the first time in Botswana, farmers are able to affordably insure their livestock. The policy covers accidental death, theft, sickness and transit. Stud animals are covered against accidental death, theft, sickness and death caused by trampling while in transit.

What do I need to apply

  • Any farmer can apply
  • A veterinarian’s General Health Certificate

3. Asset insurance

All assets (both farming and private) can be insured.

Private assets

  • Houses
  • Contents
  • Valuables
  • Vehicles
  • Pleasure craft
  • Personal liability

Farming assets

  • Stores
  • Contents
  • Silos (including contents)
  • Electronic equipment
  • Vehicles (trucks, tractors, other farming implements)
  • Public liability (including spread of fire and droving of cattle).

Where can I get more information?

Contact your Relationship Manager (Existing Client)

Or

Call us on 00267 361 8555, toll free 0800 600 685
Email: BotswanaCustomerCareCenter@stanbic.com


 
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