The Agricultural Bank of Namibia (Agribank) provided N$366.9 million in loans to 544 clients between April and August this year.
Finance minister Ericah Shafudah revealed this in the National Assembly on Thursday while presenting the 2026/27 mid-year budget review.
Shafudah said N$44.4 million went to women, N$28.3 million to young people and N$94.6 million to communal farmers.
She said the funding helped create or maintain approximately 1 550 jobs in the agricultural sector.
Shafudah also announced that the government has allocated N$40 million to the Agro-Marketing and Trade Agency (Amta) to buy surplus grain from local farmers ahead of the anticipated El Niño.
El Niño is a natural weather pattern that occurs when ocean temperatures in the central and eastern tropical Pacific become warmer than usual.
Shafudah said the grain would be stored in the country’s national strategic grain reserves to strengthen food security.
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