Africa-Press – Namibia. THE Development Bank of Namibia (DBN) says while it is the sole mandate of Agribank Namibia to fund agriculture, it can also extend funding to agri-enterprises.
Bank spokesperson Jerome Mutumba says the agri-enterprise sector would consist of adding secondary value to agricultural operations, as well as resource transformation of agricultural produce.
He says the bank’s finance for agri-enterprises has three distinct fields: Firstly, agri-industry is an enterprise activity that manufactures products to support agriculture, such as fertilisers and feeds.
This category may also include professional services to agriculture, such as veterinary services, welding and fabricating, and mechanical repairs, he says, referring to the bank’s skills-based finance for young professionals and artisans.
Secondly, agri-processing consists of transforming and marketing the products of stock farming and horticulture, with finance for items such as mills, feedlots, abattoirs, dairies, processing facilities and transport and logistics assets.
Thirdly, Mutumba points to the bank’s climate adaptation facility.
Infrastructure financed under this facility may include solar power, water storage and water distribution for larger agricultural enterprises.
The bank has a strong track record in the field of agri-enterprise, including finance for abattoirs, feedlots, dairy production and milling plants, and sees agri-enterprise as a growth area
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