Spending huge amounts of money on farming equipment is no laughing matter. When financing is involved, farmers are forced to look at every transaction from all possible angles. Banks have no other option but to listen to farmers’ needs and to adapt continuously in order to stay in the game.
Healthy competition to the benefit of clients is ensured by the fact that Zambia has a fair number of competitive banks. FNB Zambia is well placed in the farming market and builds on the successful procedures and strategies of their mother company in South Africa, which has been in the game for a very long time.
FNB’s inviting stand at Agritech Expo, with the well-known turquoise corporate colours and their even more inviting slogan – How can we help you?, and a professional catering service with free food was a perfect stopping point for farmers in their quest for the perfect finance solution.
“We’ve rolled out new permanent solution strategies to help farmers with their day to day banking needs. We are currently emphasising e-channels and have various products to aid the farmer, like cell phone banking, online banking and many other platforms they can use to facilitate their payments at their convenience,” Cheyo Mwenechanya, FNB’s Senior Manager Agribusiness, says.
“We know that farmers prefer not to spend their time in the office. A farmer would rather be on his combine, tractor or in his pick-up, working. They need to do their banking business on the go and these platforms enable them to make payments conveniently. Our products on cell phone banking, such as e-wallet, enable farmers to make payments to their farm workers, suppliers and even to the tax man.
FNB works closely with the Central Bank which is the banking regulator, to align themselves with the correct requirements. “We have recently managed to negotiate the maximum payments on cheques up to K25 000,” Cheyo says.
But with all these new developments, FNB is still continuing with their earlier value products that farmers have learned to depend on. The products that cater for working capital, term loans, business development loans, asset finance for equipment purchases and all the various needs a farmer may have, are still ready to be utilised.
“We have a presence in all agricultural areas across the country, and we have a dedicated sales and support team that is willing to help and advice the farmer in terms of farming solutions. We are still aggressive and still moving forward. We know that farming has its cycles of lows and highs with difficulties such as droughts and fluctuating commodity prices, therefore we are always ready to talk with farmers to see how we can provide solutions to ease their cash flow situations. We shall continue with our valuable philosophy of “How can we help you?” he says.
Cheyo and his colleagues are ready to answer all your financing questions. Call them on +26 (0) 21-136-6849 or send Cheyo and e-mail to firstname.lastname@example.org.
Feature photo: Cheyo Mwenechanya, Justin Chicheleko, Choolwe Chiyala, Steven Mutanuka, Chansa Kasuba, John Jaysen Mabingo and Muteto Nyika were ready to reply to any farmer’s questions on financing and financial matters at the FNB stand at Agritech.