Bank Windhoek’s Agri Series Focuses on Drought Impact on Namibia

Bank Windhoek’s Agri Series Focuses on Drought Impact on Namibia

Bank Windhoek’s Executive Officer for Marketing and Corporate Communication Services, Jacquiline Pack, emphasized that the agriculture sector has always been a cornerstone of Namibia’s economy and society, contributing around 6% to the Gross Domestic Product (GDP) and creating significant employment opportunities. She made this statement on Tuesday, 5 November 2024, while announcing that the fifth Agricultural Series will take place on Wednesday, 13 November 2024, in Windhoek, live on […]

November 6, 2024 10

Environment

Agriculture Minister supports Bank of Namibia’s drought relief policy

The Bank of Namibia has introduced a financial relief policy for farmers affected by ongoing drought, which includes loan restructuring, debt moratoriums, and emergency funding at preferential terms. Agriculture Minister Calle Schlettwein expressed support for the policy in an interview with Future Media, emphasising the need for financial products tailored to the agricultural sector's unique challenges. Minister Schlettwein, discussing Namibia's response to climate change, further highlighted the importance […]

October 29, 2024 13

Environment

Bank of Namibia Orders Financial Relief for Drought-Stricken Farmers

The Bank of Namibia has directed local financial institutions to establish relief measures designed to support farmers and agricultural businesses facing severe financial difficulties caused by the ongoing drought. BoN’s Director of Strategic Communications and International Relations, Kazembire Zemburuka, explained that this move follows a state of emergency declaration in response to what is described as the worst drought Namibia has experienced in a century, according to The Brief.

October 29, 2024 11

Namibia

Cabinet Approves Key Initiatives in Drought Relief, Water Management, and Economic Stability

In a recent cabinet meeting, several key decisions were made to tackle pressing issues in Namibia. The Cabinet approved actions for drought relief, including a budget allocation and the enrollment of over 64,000 households. It emphasized the need to allocate 5% of the national budget for water management to meet Sustainable Development Goal 6. The Total Allowable Catch for rock lobster was set for the upcoming fishing season, and […]

October 18, 2024 11

Africa

Zimbabwe considers elephant culling for food amid drought

Zimbabwe is considering culling elephants for the first time since 1988 as the country grapples with a devastating drought. Environment Minister Sithembiso Nyoni told lawmakers in Mount Hampden, near Harare, that discussions are underway to cull elephants and distribute the meat to drought-stricken communities in need of protein. This move comes as Zimbabwe faces one of the worst droughts in recent decades, leaving many communities food insecure. According to Bloomberg […]

September 12, 2024 64

Namibia

Government culls wildlife for drought support

The Ministry of Environment, Forestry, and Tourism has pledged to cull 723 animals as part of the government's drought relief program. The animals, including 30 hippos, 60 buffaloes, 50 impalas, 100 blue wildebeests, 300 zebras, 83 elephants, and 100 elands, will be sourced from national parks and communal areas with sustainable game populations. Ministry spokesperson, Romeo Muyunda.

August 27, 2024 26

Business / Economics

Agribank rolls out drought relief plan

Namibia's agricultural lender, Agribank, has launched its drought relief subsidy, as announced by Hon. Iipumbu Shiimi, Minister of Finance and Public Enterprises, in his February 2024 budget speech. Effective today, 10 July 2024, the relief will come in the form of installment relief and a penalty interest waiver for clients. According to the bank's spokesperson, Fillemon Nangonya the first intervention focuses on Agribank clients with farmland and livestock loan accounts, […]

July 10, 2024 40

Africa

Zambia gets funds from IMF as drought takes toll

The International Monetary Fund has agreed to immediately disburse $569.6 million to Zambia, boosting the country’s foreign exchange reserves as it deals with its worst drought in almost 60 years. Bloomberg reports that the money includes an augmentation of $385.7 million. The funds will assist Zambia’s drought relief measures.

June 27, 2024 17

Environment

Drought response to cost N$ 1.3 billion

Following President Nangolo Mbumba’s declaration of a national emergency due to severe drought induced by El Nino, the government has allocated N$825 million for relief efforts, but Deputy Prime Minister John Mutorwa says a funding gap of N$482 million, with the total needed at N$1.307 billion. Relief efforts include food aid for nearly 342,000 households, livestock support, and water provisions. Executive Director in the Office of the Prime Minister, I-Ben […]

June 20, 2024 37