Speaking to farmers in Tukavesi, Cakaudrove, Minister for Agriculture, Waterways, and Environment, Dr Mahendra Reddy, said no business, country, farmer, or individual can grow without savings and investment.
"Investing in agriculture is one of the most effective ways of reducing hunger and poverty, promoting agricultural productivity, and enhancing environmental sustainability," he said.
Minister Reddy added that investments made by the farmers themselves are indispensable. Their investments constitute the foundation and the engine for sustainable development and the reduction of poverty and hunger.
"For farmers, the main sources of investment finance are their fixed capital and savings, which are used as collateral for credit. Capital formation is certainly higher for farming households with clear, legally recognised ownership of their land and positive savings," Dr Reddy said.
He noted that some farmers consume all surplus, leaving no room for investment in critical infrastructure and implements. This may result in slow or zero growth for the farmer.