Vice President visits Agribank

06 Feb 2019

Namibia’s vice president, Dr Nangolo Mbumba, visited Agribank last week as part of his familiarisation journey to key state-owned enterprises. Dr Mbumba met with the board and senior management before touring the Agribank building and meeting with staff members on the first and Midland branch floors.

During his welcoming remarks, board chairperson Michael Iyambo noted that the visit comes at a difficult time for the economy in general and agricultural industry in particular, especially given the prolonged economic downturn and unpredictable weather cycles. Iyambo was however optimistic that such conditions also present opportunities for the bank. “What we need as a nation is upright leadership, closer synergies among key stakeholders, innovation and diversification and most importantly the urge to take important decisions and actions” he concluded.

At the occasion, Agribank chief executive officer Sakaria Nghikembua presented an overview of the bank’s mandate, its product portfolio as well as challenges and opportunities the bank is facing, and how these are being dealt with. Nghikembua emphasised that Agribank has an important role to play in the land reform process in the country, adding the bank requires support of all stakeholders to effectively and sustainably deliver on its mandate.

On his part, Dr Mbumba expressed appreciation for the visible synergy and teamwork demonstrated by the bank’s board and senior management in the process leading up to his visit and during the visit itself. The vice president noted that farmland prices are skyrocketing and that a sustainable solution is required through a multi-stakeholder approach. He further called upon Agribank to finance value-adding industries, such as the abattoirs in communal areas in order to alleviate the urban migration challenge. He added that the dynamics of farming have changed and thus farmers need continuous training and mentorship to succeed. “You cannot live in a modern economy without sufficient preparation and requisite knowledge”, he concluded.

Issued by:

Sakaria Nghikembua
Chief Executive Officer
For enquiries, kindly contact the Marketing and Communication Division at:
Tel.: 061 2074332
Fax: 061 2074206

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