Loan boosts Namibian agriculture with N$400 million

Niël Terblanché Namibia’s agricultural sector received a significant boost as the Agricultural Bank of Namibia (Agribank) and KfW Development Bank inked a historic agreement, securing a concessional loan of just over N$400 million. The collaboration, which aims to empower Namibian farmers and related food-producing businesses, promises to revolutionize access to financing for the communal and commercial farming sectors and Micro, Small, and Medium Enterprises (MSMEs) involved in agriculture and food processing. Agribank, as the recipient of the funds, plans to utilize the resources to provide expanded financing facilities to small-scale farmers and MSMEs engaged in primary agriculture and agro-processing. By…