Agribank, N-BiG sign deal to boost biomass sector

Agribank and the Namibia Biomass Industry Group (N-BiG) have signed an agreement to boost the biomass industry.This while the bank is in the process of rolling out a biomass value chain financing scheme, which was operationalised earlier this year to meet its loan book diversification objective.According to Agribank, this industry has the potential to improve the streamflow of underground water, refine rangeland productivity, create sustainable employment and serve as an opportunity for farmers to diversify revenue streams. In addition, the industry will promote climate-smart agricultural practices.The agreement is valid for five years, from August 2022 to July 2027, with the option for renewal at the end of the term.Major milestoneThe agreement stipulates that the parties cooperate in the development and amendment of financing of products, aimed at scaling up projects in bush control and biomass utilisation, as well as the sharing of data required to develop loan products that are responsive to market needs. Similarly, N-BiG is set to provide expertise through its advisory service component, especially on risk assessment of bush control and biomass utilisation loans, in line with the bank’s policies and regulations. The bank said other areas of cooperation include technical support in development, outreach and integration of bush control utilisation, farmers’ tools such as the biomass quantification and feed formation tools. The two institutions agreed to host training for existing and prospective farmers, individuals and small- and medium-sized enterprises interested in bush control and biomass utilisation activities, including current agribank loan holders. Monitoring and evaluation of bush control and biomass utilisation activities is another identified area of cooperation.“As a bank, we are delighted to be in this partnership since it talks directly to our strategic objectives," Agribank CEO Dr Raphael Karuaihe said.On behalf of N-BiG, CEO Progress Kashandula described the agreement as a major milestone in the development efforts of the bush biomass sector in Namibia, through a public-private cooperation approach. Furthermore, the biomass sector holds potential to contribute to socio-economic development and an inclusive bioeconomy for Namibia, he said.

Agribank, N-BiG sign deal to boost biomass sector

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Namibian Sun 2025-06-24

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Agribank, N-BiG sign deal to boost biomass sector

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Namibian Sun 2025-06-24

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