26 Oct 2022

The Agricultural Bank of Namibia hereby informs its clients, prospective clients, and all stakeholders that, as from the 1st of December 2022, Agribank will no longer accept cash payments. The Bank will only accept payment through electronic transfer, deposits at commercial banks and point of sale (POS) at the branches. This decision to discontinue cash payments at Agribank branches is in line with the Bank’s strategy to effectively manage the security risk facing the Bank’s employees that are responsible for receiving and handling cash payments across all eight branches of the Bank.
Additionally, this changeis an effort by Agribank to further contribute to the combating of money laundering in the country. Money laundering is regulated in terms of the Financial Intelligence Act, with specific reference to Know Your Customer (KYC) requirements. This requires stringent verification of the source of cash funds and reporting thereon.
Agribank is a non-deposit taking financial institution which does not provide banking services like commercial banks. Agribank’s business is solely based on advancing loans to individuals, business entities, or financial intermediaries for the promotion and development of agriculture and related activities in the country. This implies that the Bank has limited cash handling facilities and does not charge clients for cash deposits. At the same time, the Bank continues to bear the costs when depositing cash in its own bank accounts at commercial banks.
With reference to Agribank services, one of the requirements when accessing Agribank loan products, is that an applicant is required to have a bank account with any commercial bank. Prospective clients who do not have bank accounts are required to open a bank account as a condition to access Agribank loan facilities. As such, the decision to not accept cash payments will not affect the ability of clients to make payments through electronic bank transfer and deposits through commercial banks.
Clients are therefore advised to obtain Agribank bank account details from their monthly account statements at Agribank offices and make payments through commercial banks. Clients are advised to indicate their loan account numbers as a reference, when making loan payments, to ensure timeous allocation to their accounts. Alternatively, clients are also encouraged to sign up for debit order deduction services with the Agribank for once-off payments or re-current monthly payments.
Lastly, Agribank would like to encourage clients to continue honouring their loan obligations, by ensuring timely payment of their loan instalments. This will enable the Bank to continue delivering on its mandate of promoting and developing the agriculture sector, to ensure national food security, promote sustainable employment, and improve overall economic growth.
Issued by:
Fillemon Nangonya
Public Relations Officer
For inquiries, kindly contact the Marketing and Communications Division
Tel.: 061 2074111 Email:

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What type of security must I provide for a loan at Agribank?

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

Does Agribank also provide personal loans?

No, Agribank is not a commercial bank. read more

Does Agribank provide loans to first time farmers?

Yes, Agribank can assist you to start farming. read more

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