The Namibia Press Agency, (NAMPA), was established in 1991 as a national news agency responsible for the distribution of local, regional and international news.

Agribank loans under-secured by N.dollars 341.3 million

Contributed by NAMPA.

WINDHOEK, 08 NOV (NAMPA) - The Agricultural Bank of Namibia (Agribank)s loans are under-secured by N.dollars 341.3 million, a situation that exposes it to risks of financial losses, a report from the Auditor-General, Junias Kandjeke has revealed.
The information is captured in the banks 2017/18 audit report issued by Kandjeke and submitted to the National Assembly by Finance Minister, Calle Schlettwein on Wednesday.
As at 31 March 2018, the banks loans were under-secured by N.dollars 341 276 ...

 

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