#JustIn: Millions in drought relief

Agribank of Namibia will provide loan instalment relief totalling N$104.6 million, effective from today.


In addition, Agribank will waive penalty interest amounting to approximately N$83 million for its current financial year, ending March 2025, for all its clients who are in arrears.


Based on the criteria agreed with the finance ministry, instalment relief will be limited to Agribank clients with farmland and livestock loan accounts.


The instalment relief targets clients who are in good standing and whose instalments fall due from 1 April 2024 to 31 March 2025. Clients who fell into arrears between 1 April 2023 and 31 March 2024 will also be considered.


Accounts of qualifying clients will be credited in full as and when instalments fall due, and past-due accounts will be credited with immediate effect.

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