Name of the Organization : The Agricultural Bank of Namibia
Type of Facility : Loan Consolidation Facility
Country : Namibia
Applicable For : The Agricultural Bank of Namibia Customers
Website : https://agribank.com.na/
Loan Consolidation Facility :
A relief mechanism to make available financial resources required for economic development. Loans are repayable over a period of 10-25 years.
Related : Agricultural Bank Aquaculture Loan Namibia : www.statusin.org/6661.html
Loan consolidation combines several existing loans into a new bigger loan from a single lender, which is used to pay off the balances of the existing loans. Clients should have a loan facility with Agribank to qualify and must offer some form of collateral such as a farm, a house and/or acceptable collateral to Agribank. Also included under this facility is the taking over of debts from other financial institutions. However proof must be provided that the debt was indeed incurred for agricultural related activities.
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.
** 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 (mortgage bond) or any other acceptable form of security (fixed deposits, investments and surrendering value of policies). The bank will grant the loan for 80% of the valuation of the security.
** Quotations from registered dealers/suppliers must be provided.
** Companies should provide audited financial statements, certificate of registration, shareholders or directors of the company and must have a registered auditing firm.
Contact us for further information :
Product Enquiries:
Mr. John Ntemwa:
Business Consultant
Caprivi Branch
MAIL: jntemwa [AT] agribank.com.na
TEL : 066252060/2
Mr. Dusken Manyando Mungalisa:
Sales & Services Consultant
Rundu branch
MAIL: dmungalisa [AT] agribank.com.na
TEL: 066255113
Mr. Jonathan Maharero:
Sales and Services Consultant
Southern branch(mariental)
MAIL: jmaharero [AT] agribank.com.na
TEL: 063 242734
Mrs. Maureen Kamerika:
Sales & Servises Consultant
Otjoreku branch (otjiwarongo)
MAIL: mkamerika [AT] agribank.com.na
TEL: 067304497
Mr. Frans Arnold Nanuseb:
Sales & Services Consultant
Otjoreku branch (otjiwarongo)
MAIL: fnanuseb [AT] agribank.com.na
TEL: 067-304497
Mr. Evans Simbuwa Mwangala:
Sales & Services Consultant
Oshakati branch
MAIL: emwangala [AT] agribank.com.na
TEL: 264 65 22 1113
Mr. Innocent Kwenani Simasiku:
Business Consultant
Midland branch
MAIL: isimasiku [AT] agribank.com.na
TEL: 061207 4261
Mr. Mekupi Hengari:
Consultant
Midland branch
MAIL: mhengari [AT] agribank.com.na
TEL: 0612074281
About Us :
Agribank is a State-Owned Enterprise with the mandate to promote the growth and development of agriculture through affordable and innovative financing. Agribank has been operating in Namibia for over 25 years.
Agribank Act No. 5/2003, as amended, provide the legal framework for regulating the business of the bank and to expand the business operations to be responsive to the changing environment. The Act mandates Agribank to advance money to persons or financial intermediaries to promote agriculture and activities related to agriculture.