Namibia Boosts Youth Agriculture Fund with Additional N$20 Million for Agribank

Namibia Boosts Youth Agriculture Fund with Additional N$20 Million for AAgribank. Prime Minister Dr Elijah Ngurare has announced an additional N$20 million allocation to Agribank for the implementation of the National Youth Development Fund (NYDF), increasing the bank’s funding to N$60 million to expand financing and training opportunities for youth-led agricultural enterprises.

The announcement was made during the Prime Minister’s visit to Agribank, one of the development finance institutions responsible for implementing the NYDF.

The visit formed part of a series of engagements with institutions administering the fund, aimed at assessing implementation progress, understanding operational challenges and identifying opportunities to strengthen support for young entrepreneurs.

During the visit, Ngurare commended Agribank for its progress in implementing the programme, describing agriculture as a key priority for the Eighth Administration.

He said the National Youth Development Fund was established to address long-standing barriers that have limited young people’s access to agricultural finance. He also referred to previous government-supported agricultural initiatives, including the Affirmative Action Loan Scheme and resettlement programmes.

Agribank’s executive management presented an update on the fund’s implementation, revealing that approximately N$23 million of the initial N$40 million allocation has already been approved. The funding has benefited 66 young people involved in youth-led agribusinesses.

The approved projects span all 14 regions of Namibia and cover sectors including poultry, horticulture, piggery, agro-processing and aquaculture.Agribank also reported that approximately 1,400 loan applications are currently under review, reflecting continued demand for financing under the programme.

In addition to financing, the Prime Minister acknowledged Agribank’s contribution to capacity building. Since 2017, the bank has provided training and advisory services to more than 70,000 farmers and placed over 300 farmers in mentorship programmes.