Nedbank response to amaBhungane article titled State Capture: The case against Nedbank
Published - 8 February 2021
Technology must drive smart solutions to help ensure food security for future generations,' says Daneel Rossouw, Nedbank Agriculture Divisional Head in the Western Cape.
Statistics from the Food and Agriculture Organisation of the United Nations reveal that by 2050 the world's population will reach a figure of around 9,2 billion, 34% more than today, meaning that to meet the extra nutritional needs, global food
production will need to be increased by 70%. That is why Rossouw believes that the implementation of new technology, along with funding, will play a critical role going forward.
'Given that the land available to produce food cannot increase, there are only a number of ways in which this production increase can be achieved – one of them being rethinking how we farm and changing our 'business as usual',' says Rossouw.
Citing Nedbank's recent partnership with South African aerial data-analytics specialist Aerobotics (Pty) Ltd as one great example, Rossouw, believes there are many innovative products, start-ups and industries that are being developed with these drivers in mind.
Aerobotics provides tree crop farmers (fruit and nuts) with regular satellite imagery, which helps farmers to monitor their crops, plan their irrigation based on soil, leaf and other data, and apply variable rates of fertiliser using the same data. Fruit farmers receive accurate statistics for their orchards, with every drone flight assessing tree health down to each individual tree, flagging diseases or showing how much fruit will be harvested that season so that farmers can plan ahead and avoid food wastage.
Nedbank is further driving innovation in the agriculture sector through its funding of Stellenbosch University Nedbank LaunchLab (Pty) Ltd, which explores innovative options using technology to ensure that the agrisector is given an edge in ensuring its goals.
Water conservation, solar and wind technology, investment funds for farmworkers and agridata management are some of the agribusiness innovations being developed through LaunchLab. Since LaunchLab has been launched in 2014, more than 100 new companies have incubated with access being provided to mentors, research and business development expertise.
The agrisector, including agritech and greentech, is an important focus of LaunchLab.
Innovations that provide farmers with data that indicate factors such as precise moisture content, soil quality, fertiliser needs and when to plough mean that farmers use less water, less energy and less fertiliser.
Sustainability is close to the heart of the green bank, which is also playing an active role in addressing key environmental issues such as drought, water supply,renewable energy and climate change.
As the largest agricultural exhibition in Africa, Nampo attracts more than 70 000 visitors every year, with almost 800 exhibitors displaying the latest in agriculture solutions and technology.
For more information on Nation in Conversation visit www.nasieingesprek.co.za.
