Agribank gets new Board

29 Oct 2018

In a seamless transition which represents change with continuity, Minister of Finance Calle Schlettwein recently appointed a new Board of Directors for Agribank. The new Board’s term runs from 1 September 2018 to 31 August 2021. The new Board is led by Michael Iyambo as Chairperson, with Dagmar Honsbein as Deputy Chairperson. Honsbein also chairs the Finance, Risk, Audit and Compliance Committee (FRACC). Other members of the five-member Board are Dr Michael Humavindu, who chairs the Credit and Investment Committee (CIC), Phanuel Kaapama who chairs the Human Resources Committee (HRC) and Peyavali Hangula. Hangula serves on the Finance, Risk, Audit and Compliance as well as the Human Resources Committees.

Two of the previous directors, namely former Board Chairperson Terttu Uuyuni and Oiva Mahina, who chaired the Human Resources Committee, retired from the Board and were not available for re-appointment after serving on the Board for eight and six years, respectively. Following is a brief profile of each of the new Agribank board members;

Michael Iyambo is a knowledgeable and successful commercial farmer, with a focus on horticulture. Iyambo’s successful farming business resulted in him receiving the following awards: Namibia Business Awards’ Award for Excellence (2011), Large Scale Horticulture Producer of the Year (2014), Freshmark Supplier of the Year (2016); and his appointment as the Chairman of the National Horticultural Task Team, Vice Chairman of the Karst Area Horticultural Association as well as Vice Chairman of the Potatoes and Onions Producers Association (Namibia). Iyambo was recently appointed as Chairperson of the Namibia Agronomic Board. His knowledge about the industry, and sound business acumen, provide for optimum advice on credit analysis. In addition to the Board chairmanship, Iyambo serves on the Credit and Investment Committee of the Board.




Dagmar Honsbein has fundamental and practical insights in value chain management as well as financial systems and resources mobilisation for development. She is equally comfortable in providing professional services at policy and grassroots levels. Her extensive knowledge in the productive sectors are invaluable as the Bank gears itself to serve its clients and respond to their needs in an ever-changing agricultural environment. Honsbein is a fellow in International Marketing from Reutlingen University in Germany and holds a Master’s degree in Chemical Engineering and Applied Sciences from Aston University, Birmingham, United Kingdom; as well as a Master in Leadership in Development Finance, from Frankfurt School of Finance and Management, Germany and a BSc in Wood Engineering from the University of Stellenbosch, South Africa. She is a Certified Expert in Microfinance, SME Finance and Climate and Renewable Energy Finance, as well as Financial and Managerial Accounting. In addition to chairing the Finance, Risk, Audit and Compliance Committee, Honsbein also serves on the Human Resources Committee. With her husband, she farms commercially in the Khomas region.

Dr Michael Humavindu boasts a strong academic and professional background in economic research and modelling, industrialization, MSME development and development banking. Dr Humavindu spent eight years in development finance at the Development Bank of Namibia (DBN), where he worked on project finance, deal structuring, credit assessments, and the design of policies such as the Microfinance Policy and Development Impact Framework. Presently a Deputy Permanent Secretary in the Ministry of Industrialization, Trade and SME Development, Dr Humavindu is optimally positioned to lead discussions and test the Bank’s policies against the fiscal space, sustainable finance and the country’s economic agenda. Dr Humavindu holds a PhD in Economics from the University of Umeä, an MSc in Finance and Investments from the University of Durham, United Kingdom, an MA in Economics from the University of Stellenbosch, and a Postgraduate Diploma in Environmental Economics from the University of London, United Kingdom. He chairs the Board’s Credit and Investment Committee and serves on the Finance, Risk, Audit and Compliance Committee.He is a Trainer of Trainers in Investment Appraisal as well as a Certified Development Banker. Dr Humavindu is an emerging communal farmer in the Otjozondjupa Region.

Peyavali Hangula is a Chartered Accountant in Namibia and South Africa, registered with the Institute of Chartered Accountants of Namibia (ICAN). She holds an Honours Bachelor of Accounting Science (CTA) from the University of South Africa (UNISA) and a Bachelor Degree in Accounting from the University of Namibia (UNAM). She completed her articles with Deloitte Namibia and thereafter was seconded to work for Deloitte in Atlanta, USA, for a period of 6 months to gain international experience in the field of auditing. Hangula’s work experience in the financial environment spans over a period of ten years. She possesses a wide range of skills in the areas of accounting, financial reporting, corporate governance, internal controls; external and internal audits a well as in regulatory reporting. Hangula has worked for Standard Bank of Namibia as a Financial Reporting Manager and as a Regulatory Manager. She now works for FirstRand Namibia as a Manager: Finance. Part of her community outreach involves serving as the National Treasurer and Chairperson of the Finance Committee of Scouts of Namibia. Hangula serves on the Finance, Risk, Audit and Compliance Committee, as well as the Human Resources Committee.

Phanuel Kaapama is employed at the University of Namibia (UNAM) as a Lecturer for Governance and Development Studies, where he is also serving as the current Head of the Department of Political and Administrative Studies. He holds a National Diploma in Public Administration from the Polytechnic of Namibia, as well as an MSc. in Development, Planning and Administration from the University of Bristol (UK). His research interest revolves generally around issues of development theory and practice. He regularly gives media commentaries on Namibian, African and world politics; and has published a number of academic papers. Prior to joining the academia in the year 2000, he worked for the National Planning Commission (NPC) as Namibia National Coordinator, Capacity Building for Economic Management Programme on secondment from United Nations Development Programme (UNDP) Windhoek. From 1997 - 1998 he worked for the Namibia Chamber of Commerce and Industry (NCCI) as the Head of the Policy and Advocacy Department. His first formal job was as the Founding Secretary General of the National Youth Council of Namibia from 1994 – 1997. Kaapama was part of the
High - Level Committee for the Preparation of the 2nd National Land Conference and is also a member of both the Technical Committee and Negotiating Team in the Bilateral Negotiation with the Federal Republic of Germany on 1904 Genocide, Apology and Reparation. He also boasts extensive farming experience in both communal and commercial agricultural sectors. Kaapama Chairs the Human Resources Committee and also serves on the Credit and Investment Committee.

Commenting on the new Board, Agribank chief executive officer, Sakaria Nghikembua, stated: ‘We are excited about the new Board. It’s a good story of change with continuity. This is a solid Board with experienced individuals who have established track records. It’s the type of people we should be having on Boards of public enterprises for progress. The appointing authority has done an excellent job here’.

Issued by:
Sakaria Nghikembua
Chief Executive Officer

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