With Namibia unveiling about 450 million dollars (8.1 billion Namibian dollars) stimulus and relief package geared at addressing the negative effects arising from the first 21-day lockdown period, Agribank Namibia is working on modalities of implementing CONVID-19 relief measures.
The company’ CEO, Sakaria Nghikembua revealed this through a press statement.
“Based on the stimulus package announced by the Minister of Finance on 1 April 2020, the Bank is working on modalities of implementing relief measures and will inform clients of what such measures will entail as soon as they have been finalised.
“Clients are encouraged to continue servicing their accounts within their means,” said Nghikembua.
While addressing the media, Finance Minister Ipumbu Shiimhi, said the stimulus package was directed at formal and informal businesses in sectors which are directly affected by the lockdown measures as well as households.
“To avoid further retrenchments in the hardest-hit sectors, the government will provide a wage subsidy to aid businesses in keeping employees on board in the tourism, travel and aviation and construction sectors.
“Details will vary between sectors,” Shiimi said.
According to the minister, part of the money will also cater for related labour market aspects such as job retention to mitigate the negative impact on income and provide for the basic amenities for households such as potable water.
Namibia has so far recorded 13 COVID-19 cases.