Women and youth loan scheme launched

Enzo Amuele WINDHOEKThe AgriBank of Namibia on 20 October launched a loan scheme in Windhoek for women and youth, with relaxed conditions to encourage participation and enhanced financial inclusion. The purpose of the scheme is to promote financial inclusion, economic empowerment, employment creation as well as to stimulate Namibia’s economic growth. The majority of women are unable to access affordable financing for farming purposes, while current financing for the youth is not an optimal level, thus the AgriBank women and youth scheme is flexible.A media statement reads that those eligible to benefit from this scheme are women and young Namibians or permanent residents aged between 18 and 35 years. The entry is capped at 18 years and in case of a partnership, 80% of partners should be between the age of 18 and 35 years.Other requirements include business registration, license or permits as well a certificate of incorporation, memorandum and articles of association and identification documents of all the directors. Ensuring food securityAccording to board chairperson Michael Iiyambo, this initiative was well thought out, and he urges women and youth to take advantage of this scheme so that they can venture into productive agricultural activities to ensure food security for our country.Speaking at the event, deputy minister of information communication technology Emma Theofelus, who officiated the product launch, commended AgriBank for initiating this scheme, noting that these financial solutions are developmental in nature and government, as the shareholder of AgriBank, is pleased with the launch of this scheme.“It’s pleasing to know that AgriBank has taken a bold step to encourage women and youth by designing a scheme that furthers the objectives of financial inclusion. As you all aware, agriculture is the backbone of our economy and a source of sustenance of many livelihoods in Namibia,” she said.She further urged the youth to utilise this opportunity to empower themselves and become successful entrepreneurs.

Women and youth loan scheme launched

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Republikein 2025-04-30

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Women and youth loan scheme launched

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