In the agricultural landscape, financial literacy and planning are not just a desirable skill - they are necessities for farmers to flourish in an increasingly complex and competitive environment.

Bezuidenhout shares how improved financial literacy and strategic investment decisions transformed a rural cattle farmer's business, empowering him to invest around R25,000 in better genetics for his herd.

"By selecting a superior bull and focussing on genetic quality rather than mere quantity, the farmer could dramatically improve his calves' weight gain and market value. This strategic investment decision, guided by a deeper understanding of the factors driving profitability, boosted the farmer's income and expanded his market opportunities. Whereas previously, buyers had bypassed his farm due to inconsistent quality, they now actively sought out his superior cattle."

Bezuidenhout concludes, "By equipping farmers with the knowledge and tools to make informed financial decisions, we can foster a resilient and prosperous agricultural sector that continues to drive economic growth and social upliftment. At Sanlam, we are committed to walking alongside farmers on this journey, providing the education, resources, and support they need to cultivate enduring success."

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Sanlam Ltd. published this content on 22 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2024 09:49:01 UTC.