GABORONE – Stanbic Bank Botswana has provided BWP27 million in financing to Kwenantle Farmers for the implementation of a solar-powered irrigation project. The project, aimed at enhancing sustainable agriculture in Botswana, was unveiled during an event at Talana Farms in the Tuli Block, with Deputy Minister of Agriculture, Honourable Molebatsi Molebatsi, as the guest speaker.
Solar-Powered Irrigation and Expansion
The investment includes the establishment of a 1MW solar plant to power irrigation systems on a newly expanded 264-hectare section of the farm. With this addition, the total land under irrigation at Kwenantle Farmers is expected to grow to 839 hectares, utilizing 29 pivots. This expansion is projected to save the farm approximately BWP1.6 million annually in energy costs and increase permanent employment from 104 to 154 positions.
Stanbic Bank has been supporting Kwenantle Farmers for the past eight years, previously assisting in the construction of a 5,000MT silo storage facility and the acquisition of energy-efficient tractors. The collaboration has contributed to Kwenantle Farmers’ growth, with turnover rising from BWP8 million in 2017 to BWP25 million in 2022. Future projections suggest a target of BWP100 million over the next five years.
Commitment to Sustainability
Deputy Minister Molebatsi highlighted Stanbic Bank’s significant role in promoting agriculture, sustainability, and innovation in Botswana. He noted the bank’s various partnerships, including its collaboration with the Botswana University of Agriculture and Natural Resources (BUAN) and support for agricultural events like the Botswana Boer Goat and Dorper Breeders’ Society Show and the National Agric Show.
Lesego Osman, Head of Business and Commercial Banking at Stanbic Bank Botswana, emphasized the bank’s commitment to sustainable development and economic empowerment. Osman stated that supporting Kwenantle Farmers in adopting green energy solutions aligns with the broader goal of reducing Botswana’s carbon footprint while driving growth in the agricultural sector.
Partnership for Sustainable Farming
Kwenantle Farmers Director, Lembi Tlhalerwa, expressed appreciation for Stanbic Bank’s support, noting that the integration of solar-powered boreholes and advanced irrigation systems would improve water management and energy efficiency. This, in turn, is expected to lead to higher yields and a more resilient farming operation.
Stanbic Bank Botswana continues to seek opportunities to collaborate with various sectors to promote green energy initiatives and sustainable practices. The bank’s support for the solar-powered irrigation project is part of its broader mission to drive economic development and environmental sustainability in Botswana.