The integration of technology into South African agriculture represents a significant shift in the industry, with implications not only for individual farmers but for the entire agricultural value chain. This is according to Brendan Jacobs, head of agribusiness at Standard Bank.
Jacobs said the use of technology to increase efficiencies is helping to increase production and profitability by enabling farmers to make well-informed decisions at all stages of the production process.
“Digital and data innovation at the farm level benefits the entire agricultural value chain, with all parties – from financiers to exporters to retailers – collaborating in the management of digital data.
“All parties can therefore analyse market dynamics, monitor real-time operations, and forecast prices in order to plan proactively and make beneficial decisions that can optimise profits and unlock growth opportunities,” he said.
Driving technology in agriculture
Jacobs explained that part of this ongoing transition has seen farmers becoming increasingly aware of the benefits of smart irrigation systems, alternative methods of securing energy, drone technology, and genetic engineering of crops.
“These technologies are boosting food production on a continent where about 140 million people face acute food insecurity.
“As farmers become more aware of the challenges facing their business, they attend more events that are now geared to become major information and knowledge seeking hubs, such as the annual Nampo Harvest Festival exhibition.”
Jacobs said food security continues to be a major challenge for Africa’s people and Standard Bank’s purpose is to drive Africa’s growth.
“One of the ways in which we do this is by partnering with our clients to support the agricultural sector through our deep industry expertise and financial solutions.
“Standard Bank’s OneFarm initiative exemplifies the adoption of digital platforms to promote sustainable farming practices and address food waste, farmer development, and food security. By leveraging technology, OneFarm facilitates collaboration between farmers, buyers, and other stakeholders to improve efficiency and access valuable data,” he said.
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