Namibian bank to support drought-hit farmers

Farming Africa CGIAR ClimateStandard Bank Namibia said it will support farmers by structuring their loan facilities to enable them to repay their loans. (Image source: CGIAR Climate)Standard Bank Namibia has pledged to help farmers in combating the effects of drought-stricken areas in Namibia

The bank’s head of commercial, regional and agriculture department, Herman Coetzee, stated that the bank is prepared to assist farmers by providing advice and structuring their loan schemes to enable them to repay their loans.

“We are open to restructure client's facilities where needed and to be innovative in walking the distance with our clients,” Coetzee added.

Coetzee has made clear that the bank would need to understand the client’s unique situation in order to find the right remedial strategies.

“In granting additional finance, as with any banking facilities, all applications will be assessed on their own merit and within the bank's normal criteria,” he added.

“It is imperative for farmers to be fully aware of the maximum time their cash flow position will be able to withstand these current adverse circumstances with the aim of sustaining their operations for as long as possible with the least negative impact,” Mukuahima recommended.

Gerhard Mukuahima has advised farmers to begin taking thorough stock of their businesses.

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