Africa Links 24 with Matthew Dlamini
Published on 2025-02-18 08:16:00
Namibia’s agricultural premier lender, Agribank, incurred a loss of N$16.7 million during the financial year ending 31 March 2024, mainly due to drought.
This is a significant downturn from the N$49.5 million surplus achieved in the previous year.
According to the bank’s chief executive, Raphael Karuaihe, this loss can be attributed to a substantial increase in credit impairment losses, which escalated from N$2.8 million in 2023 to N$65.3 million in 2024.
“This alarming rise…
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