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Farmer retail financing still under review

Agribank’s new CEO, Sakaria Nghikembua this week announced the bank is still in the process of reviewing the so-called Emerging Retail Financing to mitigate emergent risks and to fine-tune its approach to farmers.
“In response to market demand for collateral-free products, the Agricultural Bank of Namibia undertook to introduce a new product called the Emerging Retail Financing Product in late 2015. Agribank invited applications from interested emerging farmers, who demonstrated significant interest in the product. Subsequent to this process, new developments necessitated a comprehensive review of the product and the timing of its launch. In light of this delay, Agribank wishes to inform applicants and potential clients that the review process remains underway” Nghikembua stated.
“The bank sincerely regrets the delay and assures applicants of its best intentions with regard to this product.”
Agribank said it remains committed to finding innovative solutions to ensure the financing of emerging communal farmers who do not have the traditional fixed-property collateral, in furtherance of the bank’s stated intent to transform the agricultural sector, improve productivity in agriculture and contribute to food self-sufficiency.

About The Author

Daniel Steinmann

Brief CV of Daniel Steinmann. Born 24 February 1961, Johannesburg. Educated at the University of Pretoria: BA, BA(hons), BD. Postgraduate degrees are in Philosophy and Divinity. Editor of the Namibia Economist since 1991. Daniel Steinmann has steered the Economist as editor for the past 28 years. The Economist started as a monthly free-sheet, then moved to a weekly paper edition (1996 to 2016), and on 01 December 2016 to a daily digital newspaper at www.economist.com.na. It is the first Namibian newspaper to go fully digital. Daniel Steinmann is an authority on macro-economics having established a sound record of budget analysis, strategic planning and assessing the impact of policy formulation. For eight years, he hosted a weekly talk-show on NBC Radio, explaining complex economic concepts to a lay audience in a relaxed, conversational manner. He regularly helps economics students, both graduate and post-graduate, to prepare for examinations and moderator reviews. He is the Namibian respondent for the World Economic Survey conducted every quarter for the Ifo Center for Business Cycle Analysis and Surveys at the University of Munich in Germany. He is frequently consulted by NGOs and international analysts on local economic trends and developments. Send comments to [email protected]