Graft Agency to Probe Agribank Loan Scheme

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By John Ekongo

WINDHOEK

The Anti-Corruption Commission (ACC) has formally requested the Agricultural Bank of Namibia (Agribank) to provide information on the affirmative action loan scheme at the bank.

This comes after a number of high-profile debtors failed to pay their dues on the loans they took out with the bank, including Agribank Chief Executive Officer Ambassador Leonard Iipumbu.

The ACC’s probe was prompted by arrears of nearly half-a-million dollars apparently owned by the bank’s CEO. Iipumbu is said to owe the bank a whopping N$460?

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