agribank.com.na Affirmative Action Loan Scheme (AALS) Namibia : Agricultural Bank

Name of the Organization : The Agricultural Bank of Namibia
Type of Facility : Affirmative Action Loan Scheme (AALS)
Country : Namibia

Website : https://agribank.com.na/

Affirmative Action Loan Scheme :

An instrumental apparatus of equitable distribution and proper utilization of land for sustained economic growth. This package is tailored to the emerging commercial farmers and is an important component of the land reform programme, which enables innovative new farmers from the previously disadvantaged communities, to acquire farms in commercial areas.

Related : Agricultural Bank Agribank Bush Encroachment Loan Namibia : www.statusin.org/6660.html

Loans are granted against security of the mortgage bond and are repayable over a period of 25 years. The Affirmative Action Loan Scheme (AALS) is complemented by the North South Incentive Scheme (NSIS), which is a vehicle for communal farmers to sell off their livestock north of the Veterinary Cordon Fence (VCF) and purchase disease-free livestock south of the VCF on a newly acquired farm.
Year 1-3 is free of interest and capital repayment for full-time farmers, and as from year 4 onwards outstanding amount is redeemed over the remaining 22 years at an escalating interest rate.

Part-time farmers may elect to service the interest portion only for the first three years, where after the outstanding amount is redeemed over the remaining 22 years at the appropriate interest rate.

Alternatively, part-time farmers may elect to capitalize the interest portion for the first three years where after the outstanding amount is redeemable over the remaining 22 years at the appropriate interest rate.

The applicant must own productive livestock equivalent to at least 35% of official carrying capacity of the farm which, he/she intends purchasing, and/or have the financial capacity to purchase such livestock.

Requirements:
** 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 and an income and expenditure statement.
** Agribank offers flexible installment options to suit client’s financial needs. The available installment options are: monthly, quarterly, bi-annual or annual. Loans are granted against security of fixed property (mortage bond) or any other acceptable form of security.
** Applicants should provide a contract of purchase.

Contact us for further information :
Product Enquiries:
Mr. John Ntemwa:
Business Consultant
Caprivi Branch
MAIL: jntemwa@agribank.com.na
TEL : 066252060/2

Mr. Dusken Manyando Mungalisa:
Sales & Services Consultant
Rundu branch
MAIL: dmungalisa@agribank.com.na
TEL: 066255113

Mr. Jonathan Maharero:
Sales and Services Consultant
Southern branch(mariental)
MAIL: jmaharero@agribank.com.na
TEL: 063 242734

Mrs. Maureen Kamerika:
Sales & Servises Consultant
Otjoreku branch (otjiwarongo)
MAIL: mkamerika@agribank.com.na
TEL: 067304497

Mr. Frans Arnold Nanuseb:
Sales & Services Consultant
Otjoreku branch (otjiwarongo)
MAIL: fnanuseb@agribank.com.na
TEL: 067-304497

Mr. Evans Simbuwa Mwangala:
Sales & Services Consultant
Oshakati branch
MAIL: emwangala@agribank.com.na
TEL: 264 65 22 1113

Mr. Innocent Kwenani Simasiku:
Business Consultant
Midland branch
MAIL: isimasiku@agribank.com.na
TEL: 061207 4261

Mr. Mekupi Hengari:
Consultant
Midland branch
MAIL: mhengari@agribank.com.na
TEL: 0612074281