NEWS - NAMIBIA
| 2013-07-23Agribank introduces new electronic system
Ndanki Kahiurika
AGRIBANK has introduced a new electronic system, which has already helped to reduce the backlog on loan applications.
Just last week 30 loans were approved, according to the marketing manager Regan Mwazi.
Mwazi said they expect complaints from clients to decrease due to Agribank’s move from manual to electronic systems, reducing the loan processing period from months to a day.
The bank received over 187 loan applications in the period of January to March and has over a 100 pending applications.
However, an estimated 30 loans have been processed with the new system last week, said Mwazi.
The number of loan applications received by the bank in the period of May to June this year could not be provided as the bank was reportedly implementing the new system.
The bank had, without success, attempted to implement an improved system back in 2007 during the company’s restructuring process, said Mwazi.
“The system was tested last year and proved to be successful. We can inform the public with confidence,” said Mwazi.
Mwazi added that the bank is aware of the problems that the manual system has presented their clients and hence prompted the evolvement.
Sources recently raised complaints about Agribank’s service; branding it as unproductive. A source who preferred anonymity in fear of reprisal said that clients have to wait longer than the required three months before any of their loans are processed.
In a similar case another livestock farmer experienced similar circumstances claiming he applied for a small stock loan but due to the delay the livestock will be sold to somebody else.
“Whenever I consult the bank, the excuse that they always give me is the ‘board is yet to meet’,” he said.
The farmer allegedly applied for a loan of N$200 000 in September last year and has been waiting for approval since then.
Midland (Windhoek) branch manager Kamaau Nandova said the people must have confused the bank’s Board of Directors with the Credit Committee, which meets every Tuesday.
Just last week 30 loans were approved, according to the marketing manager Regan Mwazi.
Mwazi said they expect complaints from clients to decrease due to Agribank’s move from manual to electronic systems, reducing the loan processing period from months to a day.
The bank received over 187 loan applications in the period of January to March and has over a 100 pending applications.
However, an estimated 30 loans have been processed with the new system last week, said Mwazi.
The number of loan applications received by the bank in the period of May to June this year could not be provided as the bank was reportedly implementing the new system.
The bank had, without success, attempted to implement an improved system back in 2007 during the company’s restructuring process, said Mwazi.
“The system was tested last year and proved to be successful. We can inform the public with confidence,” said Mwazi.
Mwazi added that the bank is aware of the problems that the manual system has presented their clients and hence prompted the evolvement.
Sources recently raised complaints about Agribank’s service; branding it as unproductive. A source who preferred anonymity in fear of reprisal said that clients have to wait longer than the required three months before any of their loans are processed.
In a similar case another livestock farmer experienced similar circumstances claiming he applied for a small stock loan but due to the delay the livestock will be sold to somebody else.
“Whenever I consult the bank, the excuse that they always give me is the ‘board is yet to meet’,” he said.
The farmer allegedly applied for a loan of N$200 000 in September last year and has been waiting for approval since then.
Midland (Windhoek) branch manager Kamaau Nandova said the people must have confused the bank’s Board of Directors with the Credit Committee, which meets every Tuesday.
