ONGWEDIVA – Agribank CEO Raphael Karuaihe says the financial institution has made available loans worth N$22.8 million to farmers in the northern region during the current financial year.
Of this figure, N$6.9 million is for the Oshana region alone.
The funds are intended to benefit farmers engaged in various farming activities, including livestock acquisition, farm improvements and seasonal production inputs.
“However, despite our efforts to attract women to invest in the agriculture sector, it is somewhat disappointing to note that loans advanced to men total N$2 million compared to N$271590 for women in the Oshana region. This suggests the need for stakeholder collaboration across the value chain to integrate women and youth into the mainstream agricultural economy,” Karuaihe said.
He made these remarks during the official opening of AgriBank’s northern branch office in Ongwediva on Tuesday.
He said Agribank’s primary mission is to promote agriculture by providing affordable and sustainable financial solutions on the day.
Agribank remains dedicated to empowering its clients through capacity building.
Oshana regional governor Elia Irimari inaugurated the new office, which was moved from Oshakati.
“Our training services, offered at no cost to all farmers, are conducted regularly to equip farmers with the knowledge and skills they need to succeed.
I encourage all farmers to take advantage of these opportunities,” Karuaihe added.
In recognition of the challenges posed by drought, Agribank had rolled out the drought relief subsidy, which was announced by the Minister of Finance and Public Enterprises (Iipumbu Shiimi) during the budget speech in February 2024.
“These include installment relief for farmland and livestock loan accounts and the waiving of penalty interest for all clients in arrears for the current financial year. These interventions, amounting to N$197 million, are designed to provide much-needed support to our clients during these challenging times,” Karuaihe said.
“We will continue to refine our strategic priorities, deepen the reach of our product offerings, and ensure that no farmer is left behind. Financial inclusion for all Namibians is not just an aspiration, but a goal we are actively working towards,” he said. Irimari said the initiatives are critical in helping farmers, especially smallholders in communal areas, to scale up their operations and increase productivity to enhance their livelihoods.
“That is how we drive development at the grassroots level, providing targeted support that meets the unique needs of our communal farmers. Therefore, such initiatives are indeed commendable,” he added.
The governor urged Agribank to continue being innovative and ensure their product offerings are inclusive and accessible to all Namibians.
“I have noted that Agribank’s role goes beyond financial support. The training and advisory services provided to our farming communities are invaluable. These programmes equip farmers with the knowledge and skills needed to improve their agricultural practices and adopt climate-resilient strategies,” he said. –fhamalwa@nepc.com.na