Windhoek: Agribank has announced the rollout of the implementation phase of its arrears relief programme, which will officially commence on 02 February 2026. Agribank said in a media statement that the programme is aimed at supporting clients who have fallen behind on loan repayments while strengthening the bank's debt recovery efforts.
According to Namibia Press Agency, the programme, launched in September last year, targets Agribank clients whose accounts are classified under pre-legal and legal status. Participating clients will qualify for a 100 per cent write-off of penalty interest, subject to meeting specific conditions.
Pre-legal clients are required to pay at least 20 per cent of their arrear balance, excluding penalty interest, while legal clients must pay at least 25 per cent of their arrear balance under the same terms. Additional benefits include de-listing from the credit bureau, where applicable, voluntary advisory services tailored to client needs, and, where suitable, opportunities for project publicity and marketing support.
Once the required portion is paid, the remaining arrear balance will be ring-fenced, with no further interest charged on the amount. Clients will be allowed to repay the balance over a period of up to 60 months through equal monthly, quarterly or bi-annual instalments.
Agribank stated that participating clients will be required to sign an addendum to their loan agreements to formalise the arrangement, while cases already under legal action will be concluded through an order of court. Clients will also be expected to continue servicing all new and ongoing loan instalments.
Failure to honour the agreed repayment arrangement will result in the reinstatement of penalty interest and continuation of recovery processes. Defaulting on any other loan obligations may also lead to the revocation of relief benefits. Relief under this programme is granted once per client, unless otherwise revised.
The application period will run for six months, from 02 February to 31 August 2026. Interested clients have been urged to visit their nearest Agribank branches to submit applications.