Agribank’s loan book has grown from N$225 million at Namibia’s independence to N$3 billion last year. The N$3 billion represents loans still outstanding and excludes those that have been paid back fully over time. Agribank says in a statement that 49% of the loan book accounts for land purchases. Between 1992 and 2020 Agribank granted loans to the value of N$784,3 million under the Affirmative Action Loan Scheme. It says N$3 411 386 hectares of land were bought with these loans. Agribank says commercial banks are also extending credit to farmers, which according to available figures stands at N$4,4 billion. The accumulative figure extended to agriculture in credit between Agribank and commercial bank, stood at N$7,5 billion at the end of September last year. Despite these financial injections, the bank says growth in the sector continues to dwindle and remains below expectation. Agribank ascribes this situation to the prolonged drought and the outbreak of animal diseases.