Namibia: Agribank Launches Collateral-Free Loan
Global, Africa, Namibia
Agribank has launched a collateral-free loan to enable working communal farmers with no conventional collateral to access agricultural loans.
The product targets salaried communal farmers who have the ability to repay their loans but do not have property in a proclaimed urban environment.
Speaking at the launch at Oshakati last Friday, Chief Executive Officer at Agribank Sakaria Nghikembua said the "no collateral loan" is in line with the bank's strategic plan geared towards inclusiveness for all farmers including those in communal areas.
The inclusiveness of all communal farmers will, amongst other factors, increase food production and contribute to household-level food security.
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