The Ministry of Lands and Resettlement and the Agricultural Bank of Namibia have established a funding scheme for resettled farmers to enable them to enhance agricultural productivity. On the 17th February 2009, the two parties signed a Memorandum of Understanding signifying their commitment towards empowering resettled farmers.
Resettlement farmers are urged to apply for loans at a low fixed interest rate of 4% per annum. The loans are tailored to meet the following important financing needs of the resettlement farmers:
Type of loan
|
Repayment period
|
Interest rate
|
Crop production
|
2 years
|
4%
|
Machines and Infrastructure
|
5 years
|
4%
|
Livestock
Large stock
Small stock
Draught animals and
others
|
10 years
8 years
5 years
|
4%
4%
4%
|
Poultry
|
2 years
|
4%
|
Application requirements:
- Applicant must be Namibian and resettled.
- Applicant must provide an allocation letter/lease agreement signed by the Minister of Lands and Resettlement.
- Applicant should be prepared to show ability to repay the loan.
- Applicant with registered businesses should provide proof of taxes (PAYE).
- For game farming or lodges, applicants are expected to submit business plans.
- Income statements (if any).
Prospective applicants are advised to contact any of Agribank branches for financing and for more information:
- Katima Mulilo – (066) 252 060
- Mariental – (063) 242 818
- Midland (WHK) – (061) 254 255
- Otjiwarongo – (067) 304 496
- Oshakati – (065) 221 358
- Rundu – (066) 255 645
- Windhoek Head Office – (061) 207 4111