Some N$15,4 million went to eleven black farmers under the Affirmative Action Loan Scheme to buy farms, the Bank said yesterday.

N$16 million was paid out to 130 clients to buy livestock, Chief Executive Officer Leonard Ipumbu said in a statement.

The sum of N$2,7 million was granted as a loan to 84 small-scale farmers at Etunda in north-western Namibia, channelled through the Ministry of Agriculture.

"AgriBank intends to raise N$995 million over a period of five years at affordable interest rates to enable the financing of capital projects in the agriculture industry," Ipumbu said.

Debt collection improved over the past year and loan payments of between N$12 and N$15 million are received per month.

"This compares well to N$4 to N$7 million paid monthly in previous years," according to AgriBank.

Local News Headlines Of The Last 48 Hours

•  'DRC refugee' arrested at airport
•  Keetmanshoop grapples with debt, at odds with Receiver
•  Namibia plagued by gender-based violence
•  'Struggle Kids' are happy campers
•  Teachers 'plot to kill' principal
•  Zero tolerance for road hogs
•  Nujoma Foundation raises N$300 000 at gala dinner
•  Young man sent to jail for killing older brother
•  Three die in lorry crash
•  Henties Bay 'in a mess'
•  High Court upholds labour-hire ban
•  Oshakati nervously eyes the sky
•  Shamil Dirk's graft case postponed again
•  ACC nabs Otavi Village Council CEO
•  Justice driver accused of looting
•  Job equity has improved
•  Ombudsman complains about Justice Ministry
•  New plan for Cuvelai Basin
•  APP postpones congress
•  Zim to ignore tribunal ruling
•  Immigration locks up SA journalist
•  Youth gets four years for rape
•  Swapo closes ranks