The Agriculture Bank of Namibia launched a women and youth scheme on Monday 19th October to advocate their participation, and enhance livelihood.
Agribank made its remark that there has been a high number of women and youth interest in agriculture but have no means of financial support. The funding and loan scheme is set with relaxed conditions and rates. The purpose of the scheme is to promote financial inclusion, economic empowerment, job creation and revive the economic growth as the agriculture sector contributes greatly to GDP.
Deputy Minister of Information Communications and Technology, Emma Teofelus applauded Agribank for taking a bold step to encourage women and youth by introducing a scheme that aligns objectives of financial inclusion. The beneficiaries are urged to take the opportunity provided by the bank and grow themselves in becoming agriprenuers. “Let us show our elders that we can make a difference by contributing to the national food security”.
The recipients can benefit from all Agribank loan products given the exception of debt take-over and debt consolidation, although the bank will consider preference of poultry, agro processing, climate- resilient projects and intensive farming projects. The applicants should be fully Namibian and aged between 18 to 35 and this applies to limited companies. Provision of business registration, licenses or permits, certificate of incorporation and identification for all the directors.
Source Face book, Agribank page live stream.