{"id":7639,"date":"2021-12-16T12:15:51","date_gmt":"2021-12-16T12:15:51","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/agribanks-flexible-repayment-plan-pays-off"},"modified":"2021-12-16T21:57:05","modified_gmt":"2021-12-16T21:57:05","slug":"agribanks-flexible-repayment-plan-pays-off","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/agribanks-flexible-repayment-plan-pays-off","title":{"rendered":"Agribank&#8217;s flexible repayment plan pays off"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Namibia. <\/strong><\/span><b>THE flexible loan repayment plan Agribank extended to farmers in view of subdued economic activities in the country due to the Covid-19 pandemic has proven a success.<\/b><\/p>\n<p>This approach resulted in the state-owned financial institution collecting N$365 million during the 2020\/21 financial year, representing a 13% increase in loan repayments compared to the previous year, according to a statement issued by public relations officer Fillemon Nagonya yesterday.<\/p>\n<p>\u201cThe accommodative strategy of the bank turns out to be helpful, especially during the current subdued economic environment, as exacerbated by the Covid-19 pandemic.<\/p>\n<p>\u201cAgribank has a mandate of lending money to individuals, business entities or financial intermediaries for the promotion of agriculture and related activities in the country,\u201d Nangonya said. He added that with this mandate, loan collection becomes a key priority area of the bank, to ensure financial sustainability.<\/p>\n<p>The approach involves proactively communicating with clients for early problem and risk identification, flexible workout and repayment options and platforms, and close monitoring of loan performance as well as client support services, among others.<\/p>\n<p>Over the years, farmers have benefited from the bank&#8217;s accommodative approach. \u201cLast year, Agribank extended Covid-19 relief measures to its clients for a period of one year, from May 2020 to May 2021.<\/p>\n<p>\u201cConsequently, 425 clients approached the institution and restructured their loans, in line with the extended relief measures, with a total outstanding balance of N$836 million,\u201d the statement added.<\/p>\n<p>Nangonya said Agribank will continue to assist farmers on a case-by-case basis to mitigate the impact of the ever-changing operating environment. He, therefore, called upon clients facing difficulties in servicing their loans to approach the bank with alternative repayment arrangements. Email: [email protected]<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/namibia\">Namibia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Namibia. THE flexible loan repayment plan Agribank extended to farmers in view of subdued economic activities in the country due to the Covid-19 pandemic has proven a success. This approach resulted in the state-owned financial institution collecting N$365 million during the 2020\/21 financial year, representing a 13% increase in loan repayments compared to [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":7638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-7639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Agribank&#039;s flexible repayment plan pays off - Namibia<\/title>\n<meta name=\"description\" content=\"THE flexible loan repayment plan Agribank extended to farmers in view of subdued economic activities in the country d ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/agribanks-flexible-repayment-plan-pays-off\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Agribank&#039;s flexible repayment plan pays off\" \/>\n<meta property=\"og:description\" content=\"THE flexible loan repayment plan Agribank extended to farmers in view of subdued economic activities in the country d ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/agribanks-flexible-repayment-plan-pays-off\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-16T12:15:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-16T21:57:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2021\/12\/img-61bbb61e0157d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/agribanks-flexible-repayment-plan-pays-off#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/agribanks-flexible-repayment-plan-pays-off\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Agribank&#8217;s flexible repayment plan pays off\",\"datePublished\":\"2021-12-16T12:15:51+00:00\",\"dateModified\":\"2021-12-16T21:57:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/agribanks-flexible-repayment-plan-pays-off\"},\"wordCount\":291,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/agribanks-flexible-repayment-plan-pays-off#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2021\/12\/img-61bbb61e0157d.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/agribanks-flexible-repayment-plan-pays-off#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/agribanks-flexible-repayment-plan-pays-off\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/agribanks-flexible-repayment-plan-pays-off\",\"name\":\"Agribank's flexible repayment plan pays off - 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