SABI Magazine SABI Magazine June July 2017 | Page 33

NAMPO
Strong Agri growth
to lift millions
out of poverty
by 2030
“Agricultural growth is a powerful catalyst for inclusive growth and socioeconomic transformation,”
says Simpiwe Somdyala, general manager of corporate affairs at Old Mutual.
A thriving agricultural sector
has the potential to create jobs,
stimulate savings, reduce poverty,
lessen inequality, boost intra-
African trade and of course
improve food security. With
scaled up support and strong
collaboration
between
the
government and the private sector
it should be possible to create 1
million new jobs in agriculture by
2030. That translates into several
million children lifted out of poverty
over the next 12 to 13 years.”
Somdyala shared his views on the
eve of the 51st Nampo Harvest
Day, which will took place in May
outside Bothaville. It is the largest
privately organised agricultural
exhibition of its kind in the
southern hemisphere.
As a group that committed almost
R1 billion to sustainable agriculture
in 2016, Old Mutual and sister
company Old Mutual Insure
(previously Mutual & Federal) will
combine forces to showcase their
support of the agriculture sector at
the Nampo Harvest Day.
Unlocking
Senior representatives from Old
Mutual provided comprehensive
insights into the group’s offerings
to all levels of the sector, including
grassroots enterprise development
and entrepreneurship as well as
high net worth investment and
wealth propositions.
“Old Mutual is committed to
strengthening and unlocking the
outstanding growth potential of
this sector by developing
an ecosystem of collaboration and
support of the entire agriculture
value chain, from the farmers and
their employees to their suppliers,
processors and distributors,”
explained Somdyala.
Looking beyond South Africa to
Zimbabwe, Somdyala shared
the example of how Old Mutual
has pioneered a pilot drought
insurance product for smallholder
farmers in partnership with Blue
Marble Micro Insurance. Launched
in November 2016, this innovative
solution, called Ruzhowa, helps
smallholder farmers in Zimbabwe
to protect their livelihoods against
seasonal droughts. This type of
protection will have a huge positive
effect on the economy – and also
the financial wellbeing of farmers
and communities.
Sustainability
Somdyala adds: “Innovation,
technology
and
economies
of scale are critical in today’s
farming environment to ensure
sustainability and competiveness.
These new challenges and
complexities highlight the need for
appropriate financial support and
sound advice for all involved in the
sector’s success.
“We enjoyed welcoming customers
and stakeholders to Old Mutual’s
Harvest Day exhibition, where they
can learn more about the benefits
of partnering with a financial
services provider that understands
the needs and appreciates the
dedication, effort and skill of all
the role players in this important
sector of our economy.”
Greatest agri show in South
SABI | JUNE/JULY 2017
31