Critical success factors for medium- and large-scale farmers in Lesotho
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Date
2019
Authors
Matsoetlane, Thabang
Journal Title
Journal ISSN
Volume Title
Publisher
University of the Free State
Abstract
Agriculture contributed 40% to Lesotho's Gross Domestic Product in 1995 and then declined to contribute only 1.8% to 2018s Gross Domestic Product. Agriculture is the backbone of the rural community of which 70% derives their income from it. There, therefore, is a need to revive and improve commercial farming in Lesotho. The objective of this study was to identify critical success factors for medium to large-scale farmers in Lesotho. The study was conducted using quantitative research and data were collected using questionnaires that were personally administered to the farmers. A sample of 100 was selected from the total population. The study found that critical success factors include capital, technology, market access, diversification, innovation, financial performance, management, marketing, and government policies and regulations. The study also found that skills such as networking, self-management, and conceptual thinking are critical for farmers. Most farmers comprehend that these factors are critical but still do not realise the importance of diversification and technology. It is recommended that farmers must consider the combination of factors that creates success for their operation or benchmark on a combination that works for other farmers with similar operations. It is also recommended that farmers diversify into farm tourism to increase sources of income and improve the rural economy. They are also encouraged to specialise in a marketable product and find a niche market for such a product. Farmers could also consider adding value to products by processing their products into different kinds of end-products. They should then package and brand those products to give them an identity and become more competitive. It is also recommended that farmers should unite nationwide to develop an application that will give them a platform to sell their products country-wide. The application would give a platform to both urban and rural farmers.
Description
Dissertation (MBA (Business Administration))--University of the Free State, 2019
Keywords
Critical success factors, skills, farmers, agriculture, production, Lesotho