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Windhoek – Agribank will sell Friday two farms in the Otjozondjupa region, owned by farmers who allegedly failed their loans from the bank.
The public bank is debited 500 million N combined by the defaulters and struggled to recover his money for years.
Friday's auction marks the beginning of similar actions in the coming weeks, New Era understands.
The bank confirmed yesterday that the two Otjozondjupa Friday, Agribank company chiefs, Sakaria Nghikembua, said the bank had exhausted all remedies before reaching its last decision
. "The only thing that can stop the process now is the payment of arrears by customers prior to the date of the auction."
Agribank said the auctions were closely following an announcement by the bank that it had gone from a flexible approach to a strict approach to collections.
Nghikembua said that these two auctions should He pointed out that if customers were consistently failing to meet their repayment commitments of ready, the bank would conscientiously follow the same path.
Nghikembua says that Agribban did not only have internal structures to implement recovery strategies much faster than in the past, but also strengthened its recovery efforts by recently adding new firms to his legal collection panel.
He called on his clients to act before it's too late a customer waits until they are listed or until we have a judgment against them, it is too late. "
" The best way to avoid these two situations is to make repayment commitments and to make every effort to honor those. The president of the Namibian Farmers Union (PDNFU), Jane Kuhanga, said yesterday in New Era that She was shocked by the bank's decision to auction defective farms
"We recently had a meeting with the bank, and agreed, among other things, that we should all avoid using media in this issue.We also agreed that during these negotiations, no farm would be auctioned and that no farmer should be on the list. "I am very disappointed with him, all those agreements we had with him had been in vain, "said Kuhanga
" Sakaria does not make that decision. question seriously. As president, I am not even aware of this evolution, "she added.
Kuhanga said that Agribank is not a private bank and that its decisions should therefore be the subject of consultations
"We tried all the channels but our efforts were in vain . Nghikembua does not make fun of all this, we are taxpayers and Agribank is a state institution, "she lashed out angrily.
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