But it gets easier from thereon
All beginning is difficult
AgriFinancing provides skills, tools and confidence to offer quality financial services
The Challenge
Deal Conversion
Despite training thousands of bankers in Agri Finance across Africa, the SSA finance gap appears to grow year-over-year. The gap results from the interaction of complex drivers – but only very few financial institutions have increased their percentage of Agri-lending in a meaningful manner over the past 10 years.
Knowledge Retention
Research shows that an average learner forgets 70% of what they learned within 24 hours and 90% of what they learned in a week if they don't make an effort to retain it. If this is only half true, then group training is essentially a social gathering contributing to team building.
Return on Investment
Training programs need to align with organizational goals and contribute to the overall success and growth of the institution. If they don’t, then training is a cost. But if they do, it becomes an investment. But how often do we measure the impact of a training effort?
Deal Conversion
Agricultural loan portfolios can (and indeed should) grow.
Effective training plays a critical role in realizing increased deal conversion rates which is an important metric in banking. Well-trained Agricultural Loan Officers possess the skills to identify financing opportunities, understand client needs, explain different product solutions and professionally navigate the credit process.
In summary, training empowers teams to overcome challenges, fostering a culture of continuous improvement that leads to growing portfolios and satisfied clients.
Knowledge Retention
How much do students remember a week, or a month, after a training session? When something new is learned, there is a tendency to forget quickly. This is known as the “forgetting curve”. Psychologist Hermann Ebbinghaus found that if no review or practice of what has been learned takes place, our memory of it rapidly fades. This happens because human brains can only contain so much information, and critical issues things get priority.
Distractions, not seeing the point, and (above all) not exercising what has been learned also contribute to forgetting faster. To remember things better, smart learning tricks include reviewing at spaced intervals, and actively recalling information. Knowing that our memory faded fast is the best reminder to keep practicing.
Return on Investment
Training is an investment – but is too often viewed as a cost.
Enhancing the training return on investment (ROI) is critical for achieving commercial success. Firstly a tailored needs assessment should ensure that training addresses skills gaps. Focusing on what is really necessary will maximize impact. Using technology for training means efficient delivery and progress measurement, and works out much cheaper in the long run.
Encourage a culture where training never ceases. This helps bank officers use what they learn, making training much more valuable. Finally share knowledge and implement mentorship programs to continue growing skills. Connect training with commercial plans to get the most out of the investment.
Are you ready to master agri finance?
Discover how we can empower your Agricultural Loan Officers and Credit Risk Analysts, elevating them to new heights. Let us assist in establishing and maintaining a world-class Agri-finance unit within your financial institution.
