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How poor records killed my 48-acre wheat enterprise - 12 Mar 2018 21:53

Zablon Oyugi

People venturing into agribusiness can prevent or reduce losses, predict the future of their investment, and time sales for the best pricing by adopting book-keepingto improve decision making. A study by the Federal Polytechnic of Nigeria of 155 small scale farmers in Nasarawa State found that 79 per cent of the farmers acknowledged the importance of farm records in knowing their worth, in planning budgets and in monitoring their financial progress. For Geoffrey Rono, who, in 2012, lost Sh6 million from wheat farming on his 48 acres of land due to the lack of proper record keeping across his expenses and earnings, was forced to start afresh, changing from wheat to hay production and greenhouse farming. He had to sell his tractor for Sh1.5 million to start again, with hay production, in 2014. “By the end of 2013, I was unable to account for my wheat production expenses, all I ...
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