Why finance graduate chose pig farming

Peter Dukundane is a farmer who rears pigs. He, however, learnt the skill through self-training online to get started. The 24-year-old who is based in Musanze District is also a finance graduate. After school, he set out to start his own business, choosing farming. Despite the challenges that came with his choice of career, he has been able to make significant progress. He spoke to Business Times’ Joan Mbabazi about his journey so far: How did you get started? I began in 2016 with capital of Rwf2 million. I bought 10 piglets and also invested in a pigsty and some land for expansion. I was not as knowledgeable about farming but I made sure to learn as much as possible from online sources. I did not know much about the challenges associated with farming but I learnt along the way. For instance, at some point in the initial stages, I lost all my pigs due to bad weather. What have been your biggest challenges? Farming requires adequate working capital. You invest and have to be patient. There are instances where you can go up to one year before making a return on investment. Lack of experience was the main challenge I encountered. I was not sure on how to address challenges and situations arising. Over time, experiences have served as the best teacher. What has the growth process been like? The number of pigs has since increased from 10 to 70. In this coming year, l estimate to have more than 400 pigs. I am currently operating on land of 1000 square metres. l also recently acquired another piece of land for further expansion as well as to grow food for the pigs. How much is your farm worth at the moment? My company is worth about Rwf 6M. Next year, I estimate that we will triple in value. I believe that the difficult part is behind us now. What are the returns per pig? Each pig costs Rwf80,000. For instance, 10 piglets have a revenue of about Rwf 800,000. Tips for young farmers Farming is just like other business, first, you have to be involved. In your business plan, you ought to outline aspects such as your vision, marketing plans, risks and how to manage them among others. You also need to make sure you understand the field you are getting into. Like anything else, you also need working capital that helps you meet your day-to-day expenses until you begin making returns. How many employees do you have at the moment? Currently, l have three permanent and four part-time employees. I also work with two food suppliers. Why farming? Farming is one of the easiest sectors you can get into and is not as capital intensive as other fields. For young people, it also gives them the freedom to pursue other things including school. editorial@newtimes.co.rw

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Why finance graduate chose pig farming