NHLANGANO – Livestock farmers are being taught how to turn their animals into profitable businesses and qualify for financing.
According to the Small Enterprises Development Company (SEDCO), farmers need more than quality livestock to build successful businesses.
They also need capital, financial management skills and proper business plans to expand their operations.
To address these challenges, SEDCO held a three-day access to finance training programme at its Nhlangano Training Centre.
The European Union (EU) funded the training, implemented by the International Trade Centre (ITC) through the Eswatini Livestock Value Chain Development Programme.
SEDCO provided the business development training, which focused on helping livestock farmers manage their finances, make investment decisions and prepare for loan applications.
According to information released by SEDCO, participants learnt how to set financial targets, plan investments, manage risks, obtain agricultural insurance and prepare loan applications.
They also developed 90-day business plans to put their lessons into practice.
The training highlighted the importance of financial planning when expanding livestock operations.
Farmers must budget for breeding animals, feed, veterinary services, infrastructure and transport while considering demand for their products.
The programme also addressed the financial requirements farmers must meet when seeking funding.
These include keeping proper production records, estimating income and expenses, preparing cash-flow forecasts and identifying business risks.
Such information can help financial institutions assess loan applications.
The training further covered risk management and agricultural insurance, particularly in relation to livestock diseases, drought, feed costs and changing market prices.
SEDCO’s programme also emphasised the importance of managing livestock farming as a business rather than focusing solely on increasing herd sizes.
Farmers were encouraged to consider operating costs and potential returns when planning investments.
The training highlighted the need for sound financial management, business planning and access to markets alongside funding.
Participants concluded the programme by preparing 90-day plans aimed at applying the financial and business management skills they had acquired.
