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.
- 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.