AFGRI Capital’s purpose is to provide specialized financial and
other services, including insurance products, to clients that support
AFGRI’s value chain. We provide tailor-made finance to farmers
in AFGRI’s servicing area. AFGRI Capital is governed by the
Financial Services Board (“FSB”) and acts in accordance with the
National Credit Act (“NCA”).
Understanding the importance of synchronicity
amid agricultural cycles and credit
AFGRI Capital
AFGRI Capital maintains personal,
long term relationships with farmers
and has a thorough understanding
of the agricultural cycle. The
extension of agricultural credit in the
form of short, medium or long term
facilities is then speedily undertaken
through pre-approvals of finance
when the summer season begins in
September. Before the season starts
all finance approvals are completed
so that as the planting season begins
facilities can be drawn upon. Due to
the volatility of grain prices a silo
certificate scheme was developed
to allow the farmer to raise funds
against the certificate to enable them
to sell the grain at a later stage when
prices had improved.
The diversification of operational risk
is important to AFGRI Capital. The
financing of broiler businesses, from
infrastructure to broilers spread our
risk from the pure grain value chain.
This finance is in collaboration with
feed companies that enter into a
delivery contract with farmers.
All financial products are in line
with agricultural requirements again
demonstrating that AFGRI truly understands
their customers’ needs.
An extension of service provision in
the form of the AFGRI Closed Loop
Card, linked to the credit facility, is
available, making transacting at
various outlets easy and convenient.
The Card can be used at selected
pre-approved suppliers. The Card
network is supported through
sophisticated banking solutions and
SAP with more than 150 terminals
conveniently located in AFGRI stores
and at accredited suppliers. Convenience
is of paramount importance to
the service delivery from AFGRI to
the client and so account limits are
loaded onto the card for purchases
against the approved limit. Further
advantages of the card include:
Direct purchases from approved
suppliers with AFGRI’s
credit facilities;
Immediate access to updated
credit limits and accessible funds;
Additional cards can be
linked to one account;
Account holders are informed
via sms of activity on the card of
transactions greater than R2,000;
Telephonic transactions
are possible without the
card being scanned;
Transacting via the card is
convenient and more secure;
Transactions are immediately
recorded and statements
updated in real time.
