ERFP

EMERGING RETAIL FINANCING PRODUCT (ERFP)
For Immediate Release
In response to market demand for collateral-free products, the Agricultural Bank of Namibia (“Agribank”) undertook to introduce a new product called the Emerging Retail Financing Product (ERFP) in late 2015. Agribank invited applications from interested emerging farmers, who demonstrated significant interest in the product. Subsequent to this process, new developments necessitated a comprehensive review of the product and the timing of its launch. In light of this delay, Agribank wishes to inform applicants and potential clients that the review process remains underway to mitigate emergent risks and fine-tune the bank’s targeted approach to farmers.The bank sincerely regrets the delay and assures applicants of its best intentions with regard to this product.

Agribank remains committed to finding innovative solutions to ensure the financing of emerging communal farmers who do not have the traditional fixed-property collateral, in furtherance of our stated intent of helping transform the agricultural sector, improve productivity in agriculture and contribute to the attainment of food self-sufficiency in Namibia. Towards this end, innovative financing solutions will be implemented in phases and all stakeholders will be kept informed of all developments.

Issued by:

Sakaria Nghikembua
CHIEF EXECUTIVE OFFICER
Enquiries can be directed to snghikembua@agribank.com.na.
Ends

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