In its efforts to drive Social, Economic and Environment (SEE) initiative and Botswana’s economic and sustainable growth, Stanbic Bank Botswana, through Business and Commercial Banking’s Agric business is pleased to announce its role as the financier of the Kwenantle Farmers groundbreaking Solar & irrigation Project with a sum of to BWP27 million. The event held recently was graced by Deputy Minister of Agriculture, Honourable Molebatsi Molebatsi as the guest speaker at Talana Farms – Tuli Block.
The BWP27 million investment covers the erection of a 1MW solar-plant to power irrigation systems on a new 264-hectare expansion. The total land under irrigation is envisioned to increase to 839Hac with 29 pivots which will award Kwenantle with an energy saving of approximately P1.6m/annum and employment increase from 104- 154 permanent employees.
Stanbic Bank and Kwenantle Farmers have been on this sustainability journey for 8 years. Stanbic Bank previously supported Kwenantle with building a 5,000MT silo storage and energy efficient tractors. It is through this support that Kwenantle Farmers are setting a new standard in sustainable agriculture. Their impressive growth, from a BWP8 million turnover in 2017 to BWP25 million in 2022, with projections aiming for BWP100 million in the next five years, showcases the power of innovation and commitment. This monumental project of solar-powered irrigation systems on a new 264-hectare expansion, marked a significant stride towards sustainable green technology agriculture in Botswana.
Speaking at the event, Deputy Minister of Agriculture, Honourable Molebatsi Molebatsi said, “Stanbic Bank Botswana has a remarkable history of supporting agribusinesses throughout the country, playing a pivotal role in promoting the national agenda focused on agriculture, sustainability, and innovation. The Bank’s presence in this sector is highlighted by its many partnerships, which demonstrate its dedication to encouraging growth and innovation. Notably, the collaboration with Botswana University of Agriculture and Natural Resources (BUAN) provides students with a unique chance to participate in a profit-sharing model, alongside its support for events such as the Botswana Boer Goat and Dorper Breeders’ Society Show and the National Agric Show, among other recent agricultural initiatives.’’
Stanbic Bank Botswana, Head of Business and Commercial Banking, Lesego Osman said, “We are committed to advancing sustainable development and improving the livelihoods of Batswana and the communities we operate in. This initiative highlights our dedication to driving economic empowerment and environmental sustainability and by supporting Kwenantle Farmers in adopting green energy solutions, we are not only contributing to the growth of the agricultural sector but also to the broader goal of reducing Botswana’s carbon footprint. It is projects like these that demonstrate the transformative power of sustainable practices and reinforce our commitment to the purpose that Botswana is home; we drive her growth.”
The financing of Kwenantle Farmers’ green technology farm is driven by the bank’s Purpose, “Botswana is our home; we drive her growth,” which emphasises the bank’s dedication to supporting projects that contribute to the country’s economic development and environmental sustainability.
“The support from Stanbic Bank Botswana has been instrumental in bringing our vision of a sustainable farm to life. The integration of solar-powered boreholes and advanced irrigation systems will significantly improve our water management and energy efficiency, ultimately leading to higher yields and a more resilient farming operation. This partnership sets a precedent for what is possible when financial institutions and the agricultural sector collaborate towards a common goal of sustainability,” said Kwenantle Farmers Director, Lembi Tlhalerwa.
Stanbic Bank Botswana remains committed to supporting innovative projects that drive economic development while promoting environmental sustainability. The bank continues to seek opportunities to collaborate with various sectors to champion green energy initiatives and sustainable practices across the country. In addition to the technological advancements, the implementation of solar-powered irrigation systems and boreholes will also ensure a more reliable water supply for crops, mitigating the challenges posed by water scarcity and climate change.
By integrating innovative green energy solutions, Kwenantle Farmers is a prime example of how Stanbic Bank continues to champion growth in agriculture, boosting productivity while reducing environmental impact. This commitment not only strengthens the agricultural sector but also promotes long-term resilience and prosperity for Botswana.