0Tiri MasawiWindhoek – Namibia’s government is putting together a plan to make it easier for communal farmers to access financing and to cushion them against adverse weather. In addition, the state is working out modalities to allow communal farmers in the north and northeast of the country to access lucrative beef markets. Commercial banks in the country generally require immovable property as collateral for loans because they say the 99-year leases issued to communal farmers are not bankable. “Communal farmers … are an important component of the economy and need to be supported,” Minister Shiimi said. So in the case of communal farmers, they can be allowed to access loans using their other movable and immovable properties aside from the 99-year leases.

Source: The North Africa Journal August 07, 2020 09:56 UTC