Agribank takes presidential advisor to court over unpaid debt

Staff Reporter THE Agricultural Bank of Namibia (Agribank) has taken presidential advisor Christine //Hoebes to court after she allegedly failed to repay two loans granted to her over a 10-year period, with the debt standing at over N$230,000. In the particulars of claim, Agribank said that it on or about 3 March entered into a written loan agreement with //Hoebes, adding that it made available to her the sum of N$193,000 for the purchase of 26 cows and a bull. The said loan amount was granted for a period of 10 years. In addition to this, it added that it also advanced a second loan amount of N$7,000 for the purchase of one goat ram and one sheep ram. The bank claimed that //Hoebes, however, fell into arrears, as a result of which the total balance of the first and second loans is now outstanding. “In breach of the agreements, the defendant failed to effect the agreed repayments in respect of the amounts lent and advanced to her in terms of the first and second loan agreements,” the bank said, demanding a total of over N$230,000. PAY UP: Presidential advisor Christine //Hoebes.