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11 Nov 2020
Agribank inaugurated its newly relocated regional office in Katima Mulilo on Friday, to improve its client experience as well as to ensure conducive working environment for staff when servicing farmers and potential farmers in the Zambezi region. Though the Bank has been operational for some years in the town, the new office elevates the Bank’s visibility and accessibility to clients and other stakeholders.
In his speech that was read on his behalf by Peter Mwala, Zambezi Regional Governor Lawrence Sampofu said the opening of the new Agribank office in Katima Mulilo is a welcome expression of the trust and confidence that Agribank has in the economic potential of the town and the region at large. Sampofu therefore urged the residents of the Zambezi region, particularly women and youth to make use of the office and utilize the services that are brought at their doorsteps. “I am pleased to learn that Agribank has recently introduced the women and youth scheme, with relaxed conditions. It is my hope that more young people and women from this region will take advantage of this scheme and become producers of note. The Zambezi region is endowed with sufficient fertile land and water and if you add productive youth and women to this equation, we can make our region the breadbasket of our country,” Sampofu said.
On his part, Agribank Chief Executive Officer Sakaria Nghikembua highlighted the Bank embarked on a transformation journey a few years ago that encompasses the transparency, excellent corporate governance, employee development as well as socio-economic transformation. “We are the best governed state-owned enterprise in Namibia, I can go on record and say that. We have very good record of risk management approaches and systems, strong internal controls, we comply with procurement policies of government and that is very important to us, if the institution is properly governed then the sustainability is ensured,” he said.
Meanwhile, the Bank’s Chairperson Michael Iyambo expressed gratitude on Bank’s interventions in the region which includes agri-advisory services and trainings that saw 682 farmers benefiting in the region. Iyambo appealed to the local staff to continue rendering superior customer service, ensure accountability and extend professional courtesy to all stakeholders. “If we live by these values, I am sure that we will cement our position as the leading public enterprise in service delivery in Namibia while fulfilling our notable mandate in making a developmental impact,” he concluded. The inauguration ceremony was attended by the acting Governor of the Zambezi region Peter Mwala, Katima Mulilo Mayor Charles Matengu, Agribank Board Chairperson and senior management as well as other stakeholders in the region.
Issued by:
Rino Muranda
Manager: Marketing and Communication
For enquiries, kindly contact the Marketing and Communication Division at:
Tel.: 061 2074332
Fax: 061 2074206 Email: info@agribank.com.na
20 Oct 2020
Agribank launched the women and youth loan scheme in Windhoek yesterday, with relaxed conditions to encourage participation and enhanced financial inclusion. The majority of women are unable to access affordable financing for farming purposes, while current financing for the youth is not at an optimal level, thus the Agibank women and youth scheme is flexible in that it provides relaxed conditions for funding. The purpose of the scheme is to promote financial inclusion, economic empowerment, employment creation as well as to stimulate Namibia’s econonmic growth. Eligible candidates that are set to benefit from this scheme are women and young Namibians or permanent residents aged between 18 and 35 years. The entry age is capped at 18 years and in case of partnerships, 80% of partners should be between the age of 18 to 35 years in order to qualify. In case of limited companies, 80% of the directors are required to be between the same age threshold, while the age limit for women as well as professionals in the agriculture and related fields is not limited.
Other requirements of this scheme include business registration, licenses or permits as well as certificate of incorporation, memorandum and articles of association and identification documents for all the directors. New and existing businesses are eligible, subject to financial viability and development impact. The target group can benefit from all Agribank loan products with the exception of debt take-over and debt consolidation, but preference will be given to climate resilient projects, agro-processing, poultry and intensive farming projects.
Speaking at the launch of this scheme, the Deputy Minister of Information and Communications Technology (MICT), Hon. Emma Theofelus commended Agribank for intiating the women and youth scheme noting that these financial solutions are developmental in nature and government as the shareholder of Agribank is pleased with the launch of this scheme. “It’s pleasing to know that Agribank has taken a bold step to encourage women and youth by designing a scheme that furthers the objectives of financial inclusion as you all are aware that agriculture is the backbone of our economy and source of sustenance of many livelihood in Namibia,” she said. She therefore urged women and youth to utilize this opportunity provided by Agribank to empower themselves and become succesful agripreneurs. “Let’s show our elders that we too can make a difference and that we can take up farming as a business, not only to sustain ourselves but contribute to the national food security as well,” she concluded. The product launch was officiated by MICT deputy minister Hon. Theofelus, and was attended by Agribank Chairperson Mr Micheal Iyambo, Management in the Bank as well as key stakeholders in the industry, with live performance by award winning Namibian artists Gazza, Adora and Suzy Eises.
Issued by:
Rino Muranda
Manager: Marketing and Communication
For enquiries, kindly contact the Marketing and Communication Division at:
Tel.: 061 2074332
Fax: 061 2074206 Email: info@agribank.com.na
15 Oct 2020
Agribank is arguably one of the most compliant
public enterprise with an extremely well governed structure. This is the view
of the Minister of Public Enterprises, Leon Jooste, who indicated that the
quality of governance directly translates into credible performance of Agribank
over the past few years. Jooste however cautioned the Bank not to compromise
its viability, as it has a strong developmental mandate. The minister was
speaking at the Bank’s first ever virtual Annual General Meeting (AGM) in
Windhoek today.
Speaking at the same occasion, Finance Minister
Ipumbu Shiimi, commended the Agribank Board and Management for making the Bank
vibrant, stronger and dynamic over the past few years. The finance minister
intimated that the Bank has done “extremely well” despite a difficult operating
environment to show positive trends in interest income, collections and expense
management”.Shiimi also commended the
Bank for being one of the few public enterprises that produces annual reports
and annual financial statements within the stipulated timeframes and obtaining
an unqualfied audit opinion in two consecutive financial years.
Meanwhile, the finance minister has urged the
Bank to take quick, decisive and deliberate action against farmers who neglect
their financial obligations as it threatens the liquidity and financial
sustainability of the Bank. The AGM was attended by the Ministers of Finance
and Public Enterprises, Agribank Board and management as well as senior
officials of the two ministries.
Issued by:
Rino Muranda
Manager: Marketing and Communication
For
enquiries, kindly contact the Marketing and Communications Division at:
Tel.: 061
2074332/Fax.: 061 2074206
e.g.: livestock, solar, farm, draught .. etc
An instrumental apparatus of equitable distribution and proper utilization of land for sustained economic growth. This package is tailored to the emerging commercial farmers and is an important component of the land reform programme, which enables innovative new farmers from the previously disadvantaged communities, to acquire farms in commercial areas. Loans are granted against security of the mortgage bond and are repayable over a period of 25 years. The Affirmative Action Loan Scheme (AALS) is complemented by the North South Incentive Scheme (NSIS), which is a vehicle for communal farmers to sell off their livestock north of the Veterinary Cordon Fence (VCF) and purchase disease-free livestock south of the VCF on a newly acquired farm.Year 1- 3 is free of interest and capital repayment for full-time farmers, and as from year 4 onwards outstanding amount is redeemed over the remaining 22 years at an escalating interest rate.Part-time farmers may elect to service the interest portion only for the first three years, where after the outstanding amount is redeemed over the remaining 22 years at the appropriate interest rate.Alternatively, part-time farmers may elect to capitalize the interest portion for the first three years where after the outstanding amount is redeemable over the remaining 22 years at the appropriate interest rate.The applicant must have a minimum of 150 large stock or 800 small stock or own productive livestock equivalent to at least 35% of official carrying capacity of the farm which, he/she intends purchasing, and /or have the financial capacity to purchase such livestock.Applicants must have a clean credit record.Applicants can either be full or part time farmers.Applicants should be Namibian citizens.Applicants must provide a business plan.Agribank offers flexible installment options to suit client’s financial needs. The available installment options are: monthly, quarterly, biannual or annual.Loans are granted against security of fixed property, investment or any other acceptable form of security (fixed deposits, investments and surrendering value of policies).Applicants must provide a purchase contractCompanies or co-operatives should provide audited financial statements, certificate of registration, association agreement, shareholders or directors of the company and must have a registered Auditing Firm.
This facility is for purchasing and installation of alternative energy source for agricultural purposes to contribute towards sustained productivity: Solar electricity Solar heating systems Solar geyser Solar water heater Solar water pump Generators RequirementsApplicants must have a clean credit record. Applicants can either be full or part time farmers. Applicants should be Namibian citizens. Applicants must provide a business plan. Agribank offers flexible installment options to suit client’s financial needs. The available installment options are: monthly, quarterly, biannual or annual.Loans are granted against security of fixed property, investment or any other acceptable form of security (fixed deposits, investments and surrendering value of policies).Applicants must provide a quotation from registered supplier/dealer.Companies or co-operatives should provide audited financial statements, certificate of registration, association agreement, shareholders or directors of the company and must have a registered Auditing Firm.
Government considers the development of aquaculture in Namibia as a sector with considerable growth. The demand for financing Aquaculture projects has been an ongoing concern until March 2010 when the Agricultural Bank of Namibia and the Ministry of Fisheries and Marine Resources signed a Memorandum of Understanding toward financing Aquaculture businesses. Aquaculture is focused in two types (Freshwater & Marine Aquaculture). Freshwater- Aquaculture This refers to the cultivation of aquatic organisms where the end product is raised in fresh water; earlier stages of the life cycle of these species may be spent in brackish waters or marine waters. Marine- Aquaculture This refers to the farming of high valued aquatic organisms (e.g. shellfish) with the goal of maximizing profits practiced by small to large scale producers who are active to participate in the market. LOAN TYPES 1. Short–term loan. This is mainly for a short period less than 3 years and can be utilized for: Working capital Purchasing of production inputs (feed, seed, packing material and other short-term expenses that will increase production). Repayment of short-term is based on the reproductive and life cycle of species that are being cultivated such that: Loans granted for species that have an on-growing cycle of less than a year to market size, such as (shrimp, oyster, marine fin fish, clams and bivalves) repayments are too effective annually at the lending rate. Those species that have a reproductive and life cycle of longer than 1 year such as (Catfish and Abalone), interest can be capitalized for the first three years. 2. Medium–term loans This funding will be over a medium period (5-10 years)and will mainly be for: Purchasing of brood-stock and spat (e.g. abalone). Purchasing of machinery, equipment, pumps, construction of ponds etc. Light delivery vans, trucks, and other essential vehicles. 3. Long term loan for a period (10-25 years) Long term loans to be used to purchase land; construct of infrastructure; drilling of boreholes; and are normally used to expand current business operations. SECURITY & INSURANCE Applicants with sufficient security and collateral will be subject to conditions as laid out in the guidelines on financing Aquaculture businesses as well as in the Agribank Credit Policy (i.e. mortgage, policy with surrendering value, Investment & suretyship). Where no or insufficient security is available, the following conditions will apply:- a) A cession for a minimum of 10% of the sales of the harvest towards the annual repayment. b) All assets must be insured. c) All loose assets to be bonded till such a time the loan is repaid in full. Pre- Requirements In order for a person or company to apply at Agribank for a loan, she/he should have at least met the basic requirements as set by the Ministry of Fisheries and Marine Resources as well as Agribank A detailed feasibility study. Possession of valid Aquaculture license. A detailed business plan. Clean credit record. Site: Land should be provisionally available from the relevant Municipality, Regional Council or other authorized body. In case the applicant(s) is not the owner of the site where the business/project will be conducted, a long –term lease contract should be in place. Availability of sufficient water- depending on the size of the project the availability of water is very important. The necessary water rights or permit should be in place. Species - the species to be farmed with must be commercially viable. All imported species must be approved by the Namibia Standard`s Institute (NSI). Qualified manager(s)/ personnel- the financial business plan should thoroughly address the qualifications and knowledge of the key personnel/ farm manager. It is very important for the survival of such a project that certain farm managers should have sufficient knowledge.
This scheme is aimed at combating bush encroachment in the country. The scheme will enable present land units that are uneconomical to manage to be changed into economical units and increase the capacity or production per hectare of the unit which can provide higher returns. Loans will be available in two forms: loans where manual labour is applied and loans where aerial spraying is to be used. The maximum repayment period is 15 years. Requirements Applicants must have a clean credit record.Applicants can either be full or part time farmers.Applicants should be Namibian citizens.Applicants must provide a business plan.Agribank offers flexible installment options to suit client’s financial needs. The available installment options are: monthly, quarterly, biannual or annual.Loans are granted against security of fixed property, investment or any other acceptable form of security (fixed deposits, investments and surrendering value of policies).Applicants must provide a quotation from registered supplier/dealer.Companies or co-operatives should provide audited financial statements, certificate of registration, association agreement, shareholders or directors of the company and must have a registered Auditing Firm.
DAPAP is an affordable, sustainable and environmentally friendly technology which can be used by men, women and children for ploughing, weeding, transportation and possible harvesting. The aim of the Draught Animal Power Acceleration Programme (DAPAP) is to utilize draught animal power initiative in the Communal Areas (NACP) (as well as to a smaller extent in the areas where ploughing services are done) for smallholder farmers to profitably use various animal traction technologies for higher sustainable crop production and increased productivity. Animals mainly used for DAPAP are cattle, donkeys and horses to pull implements such as carts, ploughs, cultivators, planters and harrows. The proper and efficient utilization of DAPAP technology can guarantee higher returns of controlled crops such as maize and mahangu. DAPAP offers the following benefits: Improves efficiency of physical labour input in crop production; Improves yield per hectare and area cultivated; Promotes environmentally sustainable crop production methods; It has low maintenance cost; and It is a catalyst of change from subsistence to commercial farming. Agribank provides financing at affordable interest rates for the purchase of animals and implements for sustainable crop production in order to contribute towards household food security. Requirement Only fulltime farmers, who have very little or no tangible collateral, will be accommodated under this scheme.
Agribank offers agronomic production loans for small scale farmers and corporate projects which are seasonal and repayablewithin one year and these loans can be revolved up to five years. These loans can be utilized for the following purposes:Requirements- Provide latest six months’ bank statement.- Provide latest pay slip for part-time farmer/proof ofincome.- Provide latest municipal bill if residential property isoffered as security.- Applicants must have a clean credit record.- Applicants can either be full or part time farmers.- Applicants should be Namibian citizens.- Applicants must provide a business plan.- Agribank offers flexible installment options to suit client’sfinancial needs. The available installment options are:monthly, quarterly, biannual or annual.- Loans are granted against security of fixed property,investment or any other acceptable form of security(fixed deposits, investments and surrendering value ofpolicies).- Applicants must provide a quotation from registeredsupplier/dealer.- Companies or co-operatives should provide last threeyears’ audited financial statements, certificate ofregistration, association agreement, shareholders ordirectors of the company and must have a registeredAuditing Firm.• Purchase of seeds, fertilizers, pesticides, herbicides,micro-irrigation equipment and submersible pumps, polypipes, PVC pipes and electrical cables;• Paying wages for temporal workers for weeding,pesticide spraying, harvesting and loading;• Paying for the transport and storage of the produce;• Purchasing of fuel, oil and lubricants;• Paying for packaging and• Processing of the produceDownload PDF
Loans are granted to acquire new equipment and implements such as irrigation equipment, boreholes, windmills, dams, waterpumps, combine harvesters, generators, ploughing equipment, fencing, hammer mills, mahangu threshers, silos, processingand oil extraction equipment, etc. Loans are repayable over periods which vary between fi ve and ten years. Legallyacceptable conventional collateral will be accepted as security.Requirements- Provide latest six months’ bank statement.- Provide latest pay slip for part-time farmer/proof ofincome.- Provide latest municipal bill if residential property isoffered as security.- Applicants must have a clean credit record.- Applicants can either be full or part time farmers.- Applicants should be Namibian citizens.- Applicants must provide a business plan.- Agribank offers flexible installment options to suit client’sfinancial needs.- The available installment options are: monthly, quarterly,biannual or annual.- Loans are granted against security of fixed property,investment or any other acceptable form of security(fixed deposits, investments and surrendering value ofpolicies).- Quotations from registered dealers/suppliers must beprovided.- Companies or co-operatives should provide last threeyears’ audited financial statements, certificate ofregistration, association agreement, shareholders ordirectors of the company and must have a registeredAuditing Firm.Download PDF
A facility for the farming community to purchase livestock to stock/restock the land to full production capacity in order tocontinue to grow wealth for sustainable farming operations. Large stock loans are repayable over ten years and small stockloans are repayable over eight years. Livestock loans also include raising of pigs, rabbits, horses, donkeys, etc.Requirements- Applicants should provide a herd statement and a stockbrand number.- Provide latest six months’ bank statement.- Provide latest pay slip for part-time farmer/proof ofincome.- Provide latest municipal bill if residential property isoffered as security.- Provide last three years’ audited financial statements.- Applicants must have a clean credit record.- Applicants can either be full or part time farmers.- Applicants should be Namibian citizens.- Applicants must provide a business plan.- Agribank offers flexible installment options to suitclient’s financial needs. The available installment optionsare: monthly, quarterly, biannual or annual.- Loans are granted against security of fixed property,investment or any other acceptable form of security(fixed deposits, investments and surrendering value ofpolicies).- Applicants must provide a quotation from the seller witha registered brand mark.- Quotations from registered dealers/suppliers must beprovided.Download PDF
A relief mechanism to make available financial resources required for economic development. Loans are repayable over a period of 10-25 years. Loan consolidation combines several existing loans into a new bigger loan from a single lender, which is used to pay off the balances of the existing loans. Clients should have a loan facility with Agribank to qualify and must offer some form of collateral such as a farm, a house and/or acceptable collateral to Agribank. Also included under this facility is the taking over of debts from other financial institutions.However proof must be provided that the debt was indeed incurred for agricultural related activities.RequirementsApplicants must have a clean credit record.Applicants can either be full or part time farmers.Applicants should be Namibian citizens.Agribank offers flexible installment options to suit client’s financial needs. The available installment options are: monthly, quarterly, biannual or annual.Loans are granted against security of fixed property, investment or any other acceptable form of security (fixed deposits, investments and surrendering value of policies).Companies or co-operatives should provide audited financial statements, certificate of registration, association agreement, shareholders or directors of the company and must have a registered Auditing Firm.
This facility is available to commercial farmers for the construction of labourers houses of an acceptable standard at 4% interest rate.The maximum qualifying amount per unit is N$75,000.00, but can increase in exceptional cases; the unit must be a permanent structure with a minimum of two rooms with bathing and ablution facilities.RequirementsApplicants must have a clean credit record.Applicants can either be full or part time farmers.Applicants should be Namibian citizens.Applicants must provide a building plan.Agribank offers flexible installment options to suit client’s financial needs. The available installment options are: monthly, quarterly, biannual or annual.Loans are granted against security of fixed property, investment or any other acceptable form of security (fixed deposits, investments and surrendering value of policies).Applicants must provide an approved building plan and quotations.Companies or co-operatives should provide audited financial statements, certificate of registration, association agreement, shareholders or directors of the company and must have a registered Auditing Firm.
Cabinet approved the scheme in 1999 to mitigate veterinary restrictions imposed on the movement of cattle north of the Veterinary Cordon Fence (VCF).Farmers who are participating in the Affirmative Action Loan Scheme (AALS) and who are farming north of the VCF, qualify to apply for additional assistance under the N-SIS.The objective of this scheme is to accord farmers north of the VCF the opportunity to resettle on commercial farms south of the VCF. Farmers are required to dispose their cattle through slaughtering at a registered abattoir and /or a recognized abattoir entrepreneur, except for stud bulls of outstanding quality.Proceeds from such sales will then be complimented from the N-SIS budget to purchase an equivalent number of disease free cattle south of the VCF, to be used on the newly acquired farm. The minimum number of cattle that can be subsidized is 150 and limited to 70% of the official carrying capacity of the farm, a maximum of 400 cattle.However, the actual amount of subsidy payable per head of cattle will be calculated as the difference between the proceeds of the cattle sold and the purchase price of animals bought south of the VCF. Should the price of the cattle bought south of the VCF be less than the proceeds, no subsidy will be payable and the amount paid over by the abattoir and /or recognized abattoir entrepreneur to Agribank, will be forwarded to the applicant.
The Agricultural Bank of Namibia Act, (Act No. 5 of 2003) and more specifically Government Notice No. 109 of 2006, defines the following activities to be financed by the Bank, in addition to the Bank’s existing product portfolio: Fish farming Harvesting and processing of natural vegetation Forestry Guest farms Insect raising and control Primary processing of plant and animal products not covered by the processing of food or naturalfibers as contemplated in the definition of “activity related to agriculture” Game farming and hunting The use and maintenance of installations, machinery and implements used for agricultural purposes The processing, storage and transportation for agricultural purposes Requirements Applicants must have a clean credit record.Applicants can either be full or part time farmers.Applicants should be Namibian citizens.Applicants must provide a business plan.\Agribank offers flexible installment options to suit client’s financial needs. The available installment options are: monthly, quarterly, biannual or annual.Loans are granted against security of fixed property, investment or any other acceptable form of security (fixed deposits, investments and surrendering value of policies).Applicants must provide a quotation from registered supplier/dealer.Companies or co-operatives should provide audited financial statements, certificate of registration, association agreement, shareholders or directors of the company and must have a registered Auditing Firm.
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 060Mariental – (063) 242 818Midland (WHK) – (061) 254 255Otjiwarongo – (067) 304 496Oshakati – (065) 221 358Rundu – (066) 255 645Windhoek Head Office – (061) 207 4111
A facility for the farming community to purchase or raise birds such as chicken, ostriches, ducks, etc. to grow wealth for sustainable farming operations.Poultry loans are repayable within five years.RequirementsApplicants must have a clean credit record.Applicants can either be full or part time farmers.Applicants should be Namibian citizens.Applicants must provide a business plan.Agribank offers flexible installment options to suit client’s financial needs. The available installment options are: monthly, quarterly, biannual or annual.Loans are granted against security of fixed property, investment or any other acceptable form of security (fixed deposits, investments and surrendering value of policies).Quotations from registered dealers/suppliers must be provided.Companies or co-operatives should provide audited financial statements, certificate of registration, association agreement, shareholders or directors of the company and must have a registered Auditing Firm.
At Agribank, we provide local solutions to every farmer’s needs with tailor-made facilities at competitive interest rates.Agribank will be there for you at all stages of the production process because we believe that your success is our successandultimately that of the whole nation.Agribank offers a production loan facility to grow your business to create wealth today for prosperity tomorrow. A productionloan facility can be used for the acquisition of seeds, fertilizers, herbicides and pesticides, weeding, fuel and oil, transportationcosts, wages for temporary workers, lease of grazing, licks, veterinary medicine, horticulture and micro-irrigati on.The loan is repayable in one year and it can be revolved for 5 years. The facility is available to both full and part time farmersand the applicable interest rate is 4% for communal farmers and 8.50% for commercial farmers.Requirements- Provide latest six months’ bank statement.- Provide latest pay slip for part-time farmer/proof ofincome.- Provide latest municipal bill if residential property isoffered as security.- Provide last three years’ audited financial statements.- Applicants must have a clean credit record;- Applicants should be Namibian citizens with valididentification, passport or drivers license, and marriagecertificate if applicable;- An income and expenditure statement and if applicablea business plan must be provided;- The production loan facility is granted against securityof fixed property, investment or any other acceptableform of security.- Quotations from registered dealers/suppliers must beprovidedDownload PDF
Purchasing of farmland is a center for economic development. Loans are made available for the purchase of farmland and/ or additional land for agriculture-related activities that is instrumental in adding real enterprise value to the national economy. This package is tailored to the well-established commercial farmers to ensure a well-developed and productive utilization of the land for food security and job creation. Loans are granted against security of the mortgage bond and repayable over a period of 25 years for farmland and 20 years for additional farmland. Requirements Applicants must have a clean credit record.Applicants can either be full or part time farmers.Applicants should be Namibian citizens.Applicants must provide a business plan.Agribank offers flexible installment options to suit client’s financial needs. The available installment options are: monthly, quarterly, biannual or annual.Loans are granted against security of fixed property, investment or any other acceptable form of security (fixed deposits, investments and surrendering value of policies).Applicants should provide a contract of purchase.Companies or co-operatives should provide audited financial statements, certificate of registration, association agreement, shareholders or directors of the company and must have a registered Auditing Firm.
Loans are available to purchase new and second-hand vehicles such as light delivery vans, trailers, small trucks and tractors.The repayment period in the case of the purchase of a new tractor is ten years and five years for a second-hand tractor. Therepayment period in the case of the purchase of a new Vehicle is five years and three years for a second-hand vehicle.Requirements- Provide latest six months’ bank statement.- Provide latest pay slip for part-time farmer/proof ofincome.- Provide latest municipal bill if residential property isoffered as security.- Provide last three years’ audited financial statements.- Applicants must have a clean credit record.- Applicants can either be full or part ti me farmers.- Applicants should be Namibian citizens.- Applicants must provide a business plan.- Agribank offers flexible installment options to suit client’sfinancial needs.- The available installment options are: monthly, quarterly,biannual or annual.- Loans are granted against security of fixed property,investment or any other acceptable form of security(fixed deposits, investments and surrendering value ofpolicies).- Quotations from registered dealers/suppliers must beprovided.- Companies or co-operatives should provide auditedfinancial statements, certificate of registration,association agreement, shareholders or directors of thecompany and must have a registered Auditing Firm.Download PDF
Loans are granted against security of fixed property, investment or any other acceptable form of security (fixed deposits, investments and surrendering value of policies). read more
No, Agribank is not a commercial bank. read more
Yes, Agribank can assist you to start farming. read more