Sponsorship will improve financial literacy of dairy women

Friday, 12 July 2013, 12:40 pm
Press Release: ASB Bank

12 July 2013

New ASB sponsorship will improve financial literacy of dairying women

ASB has confirmed it is a new gold sponsor of the Dairy Women’s Network (DWN). The partnership, which took effect on 1 July, will boost the work already being done by the DWN to improve the financial literacy skills of the country’s dairy farming women.

DairyNZ modelling shows there is an opportunity to improve the industry’s profitability by more than $1B per year, or approximately $1000 per hectare, by improving financial literacy and management capabilities.

The industry body has also identified there is a significant range in profitability between dairy farmers, with a contributing factor being management capability.

ASB General Manager Rural Mark Heer says ASB is looking forward to working with the DWN and its members to share financial expertise, help build financial capabilities and add value to farming businesses.

“The Dairy Women’s Network acknowledges the value that women add to the industry and has created a fantastic forum to build and encourage business leadership, share knowledge, seek advice and find professional support in an ever-changing environment,” said Mr Heer.

DWN executive chair Michelle Wilson said the Network was thrilled to be working in partnership with ASB, which will work alongside its 4,800 members in workshops, webinars and conferences.

“Alongside our Prime Funder DairyNZ, which recognises and invests in several projects to help build the financial capability of dairy farmers, this additional support is a great opportunity for both ASB and our members to work together improving the industry’s financial management practices.”

She added that the rapid growth experienced by the Dairy Women’s Network over the past few years signalled the changing face of the role of women in the industry and the significant contribution they make to its success – including effectively managing finances.

“In reality dairying women are directors, managers and, in many cases, owners of multi-million dollar businesses which need people with sound financial and business acumen alongside the practical skills of farming and leadership capabilities.”

The Dairy Women's Network was established in 1998. Its purpose is to expand the potential of women in the business of dairying by providing leadership, inspiration, learning and connection. The Network provides educational opportunities to its members through Dairy Days workshops, regional groups, conferences and other events.

The ASB gold sponsorship follows a recent announcement in May that Ballance Agri-Nutrients had confirmed its prime sponsorship of the DWN. The DWN was also recently awarded a $180,000 grant from the Ministry of Primary Industries’ Sustainable Farming Fund to undertake a three-year project to develop the first leadership programme for dairying women.

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