The Agricultural Bank of Namibia (Agribank) has launched an innovative mobile branch initiative, Branch-On-Wheels, bringing essential financial services directly to clients in areas without physical bank branches.
The Bank’s Executive for Sales, Hildegardt Martin, said the initiative involves reaching out to customers, overcoming geographical obstacles that hinder farmers or clients from accessing Agribank funding, to unlock their farming potential.
“The Branch-on-Wheels concept aspires to extend Agribank services to customers in areas with no Agribank branch, as clients in such areas find it hard to reach our physical branches that are only found in selected towns,” she said.
She added that the bank will assign a dedicated Branch-on-Wheels team to each of its eight branches.
The approach aims to reach a wider customer base in the remotest towns, providing convenience to customers who face challenges in accessing traditional branch locations.
“The Bank takes this initiative very seriously and will ensure that the entire country is covered by assigning a Branch-on-Wheels team for each of the eight branches of the Bank. By doing so, the Bank expects to reach a wider customer base in remotest towns, at the convenience of the customer,” she stated.
Meanwhile, Agribank’s Manager for Marketing and Communication, Rino Muranda, encouraged clients to actively engage with the Branch-on-Wheels teams during their scheduled visits.
The services provided include accepting loan applications, handling general inquiries, sharing information, printing statements, providing updates on loan application statuses, and even offering loan approvals where possible.
“Agribank offers competitive fixed interest rates as low as 4% for some loan products (communal, labourer houses in commercial areas); it provides flexible repayment options often based on the cash flow of the agri-enterprise; while also offering extended loan repayment periods resulting in affordable installments,” he said
