The Agricultural Bank of Namibia (Agribank) has informed its clients to continue paying their accounts despite the government announcing relief measures for Namibians during the COVID-19 period to cover agricultural business loans among others.
On 01 April 2020, Finance Minister Iipumbu Shiimi indicated that government will facilitate a N$200 million loan scheme for farmers and agricultural businesses and guaranteeing such loans to be provided by Agribank.
He added that, the loans will be extended to cashflow-constrained farmers and small to medium-sized businesses that have experienced a significant loss of revenue.
However, Agribank’s Chief Executive Officer Sakaria Nghikembua recently announced that the bank is working on modalities of implementing relief measures and will inform clients of what such measures will entail as soon as they have been finalised.
Meanwhile, he added: “Clients are encouraged to continue servicing their accounts within their means.”