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
- 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
- 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.