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The Right Honorable Prime Minister, Dr Elijah Ngurare Applauds Agribank’s Outstanding NYDF Performance and Announces Additional N$20 Million Allocation
31 Jul 2026
The
Prime Minister of the Republic of Namibia, the Right Honourable Dr Elijah
Ngurare, has commended Agribank for the progress achieved in implementing the
National Youth Development Fund (NYDF) and announced that the Bank will receive
an additional N$20 million on top of allocated 40million to expand financing
and provide training for youth-led agricultural enterprises.
The
announcement was made during the Prime Minister’s visit to Agribank. Agribank
is one of the development finance
institutions mandated to implement the NYDF. The visit formed part of
engagements with the Fund’s implementing institutions to gain first-hand
insight into their operating environments, implementation progress, challenges
and opportunities.
The
Prime Minister emphasised that agriculture remains a key priority of the Eighth
Administration. He noted that the NYDF is intended to address historic barriers
that have limited young people’s access to credit, and that past Government-supported
agricultural programmes, such as the Affirmative Action Loan Scheme and Resettlement
programmes.
Following
a presentation by Agribank’s Executive Management, the Prime Minister expressed
satisfaction with the Bank’s performance. Of the N$40 million allocated to
Agribank under the NYDF, approximately N$23 million has been approved
benefiting 66 young people through youth led agribusiness. The approved funding
is concentrated in key agricultural sectors including poultry, horticulture,
piggery, agro-processing and aquaculture with projects spread across all 14
regions of the country. In addition, approximately 1400 loan applications are
currently under review, demonstrating the continued demand for funding under
the NYDF and the Bank`s commitment to supporting youth participation in the
agricultural sector.
Highly
impressed and pleased with Agribank’s strong performance on NYDF, the Prime
Minister further congratulated Agribank on its capacity-building contribution,
including training and advisory support that has reached more than 70,000
farmers and placed over 300 farmers under mentorship since the programme’s inception
in 2017.
The
Right Honorable Prime Minister called on Agribank to provide practical support to
support the youth who may struggle to prepare viable business proposals and to
strengthen training. He underscored that NYDF beneficiaries should be assessed
in accordance with the Fund’s approved framework and no additional
requirements, such as collateral or educational qualifications should be
introduced.
“Every
successful enterprise starts with an idea. Our collective responsibility is to
help young Namibians develop those ideas into viable and sustainable
businesses,” the Prime Minister said. He also emphasised the need for synergies
among Government and other stakeholders to unlock greater impact for young
entrepreneurs.
ENDS Issued by: Agribank of Namibia Media enquiries: Marketing and Customer Strategy Department Telephone: +264 61 207 4111 Email: info@agribank.com.na
Agribank is pleased to announce that its newly appointed Chief Executive
Officer (CEO), Mr Robert Eiman, officially assumed duty on Wednesday, 1 July
2026, commencing his five-year term at the helm of Namibia's premier
agricultural lender.
Mr Eiman takes over the leadership of Agribank at a pivotal time as the
institution embarks on an ambitious organisational transformation aimed at
strengthening its impact and long-term sustainability. The transformation seeks
to position the bank to effectively respond to evolving economic conditions,
the growing effects of climate change, low agricultural productivity, and
fragmented agricultural value chains, while continuing to deliver innovative
and inclusive agricultural finance solutions.
He comes at a significant moment in Agribank's journey, following the
recent appointment of a new Board of Directors. The Board is chaired by Ms
Silvia Makgone, with Prof Colin Stanley serving as Deputy Chairperson. Other
members are Ms Victoria Mbundje, Mr Kingsley Kwenani, Ms Foibe Fabiano, Dr Omu
Kakujaha-Matundu, and Mr Adrianus Vugs. The Board will serve a three-year term,
providing strategic oversight as the Bank advances its mandate.
Speaking during a staff address, Ms Makgone, Agribank’s Board
Chairperson, reaffirmed the Board’s full support for Mr Eiman. She further emphasised
the importance of fiduciary responsibility, turnaround leadership and a
purpose-driven approach that is firmly connected to the Bank’s vision, noting
that such leadership is critical in positioning Agribank to achieve its
strategic aspirations and secure its rightful place as a catalyst for
agricultural development.
Mr Eiman is a seasoned executive with extensive experience spanning
microfinance, commercial, corporate banking and development finance. He joins
Agribank from Nampost Financial Brokers (POSTFIN), where he served as CEO.
Prior to that, he held senior leadership positions at the Development Bank of
Namibia and First National Bank of Namibia, reflecting a strong strategic
profile.
Mr Eiman expressed his excitement about joining the Bank and his
enthusiasm for learning and working alongside a team united by a common
purpose. He reaffirmed his commitment to advancing Agribank's mandate and
supporting farmers, agri-preneurs and agribusinesses in achieving greater
success.
ENDS
Issued by: Public Relations Office For inquiries, kindly contact the Marketing and
Communications Division. Tel.: 061 2074111 Email: info@agribank.com.na
The Board of Directors for the
Agricultural Bank of Namibia (Agribank) is pleased to announce the appointment
of Mr Robert Eiman as the Bank’s new Chief Executive Officer (CEO), effective 1
July 2026.
Mr Eiman succeeds Dr Raphael Karuaihe,
who retiredon 31 March 2026, following his
dedicated service and contribution to the Bank. In the interim, the Board has
appointed the Chief Financial Officer, Mr Abel Akayombokwa, as Acting CEO until
30 June 2026.
Mr Eiman is a seasoned Executive with
extensive experience across Micro Finance, Commercial, Corporate Banking and
Development Finance. Furthermore, Mr Eiman has experience in preparing,
evaluating and structuring larger deals in various industries as well as
strategy development and implementation. Mr Eiman holds a Master of Business
Administration from the Maastricht University School of Business and Economics
in the Netherlands.
He joins Agribank fromNampost Financial Brokers (POSTFIN),
where he served as CEO,and has previously held senior positions at
theDevelopment Bank of
NamibiaandFirst
National Bank of Namibia, wherehe has demonstrated
his skills in transformational leadership, strategic orientation, credit risk
management, market analysis, banking operations, and client service management,
among others.
The Board welcomes Mr Eiman and look
forward to leveraging his leadership skills, strategic insights, and financial
industry knowledge to lead the Bank into its next phase of growth,
sustainability, and impact. Mr Eiman’s appointment comes at a pivotal time when
the Bank is embarking on an organisational transformation to respond to
challenges of complex economic dynamics, climate change, low agriculture
productivity and fragmented agriculture value chains.
Therefore, the Board is confident that
he will lead the Bank through its transformation phase and beyond, while
navigating the balance between its developmental mandate and long-term
financial sustainability. Additionally, the Board would like to extend its
sincere appreciation to Dr Karuaihe, the outgoing CEO, for his leadership,
dedicated service and valuable contribution to the Bank’s progress during his
tenure.
When
informed about his appointment, Mr Eiman demonstrated optimism on the role
ahead indicating that, “I am honoured to serve in this role and look forward
to building on the foundation laid by my predecessors, while steering the Bank
towards long-term sustainable growth and contributing to the transformation of
the agricultural sector”.
END.
Issued by:
Mr Josephat Mwatotele Board Chairperson For enquiries, kindly
contact the Marketing and Communications Division. Tel.: 061 2074111 Email: info@agribank.com.na
If you are passionate about agriculture and are a biomass producer or processor, Agribank invites you to discuss our Biomass Financing Scheme, designed specifically for you! This scheme supports the production and processing of biomass products and related activities.
Why Biomass?
Farm income diversification
Sustainable job creation
Improved rangeland
Climate resilience
Who Qualifies?
Producers: An applicant (legal entity or individual) can be the owner of the farm or leasing a farm from which he/she can harvest biomass products. This includes commercial and communal farmers with approval from the Directorate of Forestry.
Processors: An applicant can also be a processor (legal entity or individual) who buys biomass products (e.g., retail shops/restaurants or export/import companies).
Loan Products
For Producers:
Working capital
Tractors / trailers
Storage sheds
Debushing equipment
Kilns
Personal protective equipment
Workers housing including clean water & sanitation
For Processors:
Working capital
General equipment & Vehicles
Maintenance workshop
Office to operate from
Charcoal processing plant
Warehouse & equipment
Loan Term The loan term is between 2-6 years, depending on the loan type.
Qualifying Criteria & Facilities Offered
For Producers:
No collateral is required if the client has an off-take agreement with a processor or retailer.
If there is no off-take agreement for biomass products, the client must provide collateral based on existing policy.
Loan payments are via monthly debit order.
Session of income / Tripartite agreement if debit order is not feasible.
For Processors:
Working capital: No collateral if there is an off-take agreement.
Capital investment loans are subject to collateral based on the principle of 100% Loan-to-Value.
All loan payments are to be done via monthly debit order.
Insurance Requirements
Insurance for equipment and plants is required and is the responsibility of the client.
All vehicles, tractors, and trucks must be insured from accident and veld fire.
Credit life cover is required as per the current arrangement of the Bank.
Interest Rate The minimum lending rate is 7%, and interest rates above 7% may be adjusted upwards as guided by the pricing policy.
Grace Period
3 Months for Equipment & Vehicles
6 Months for other loan types
Click to view or download the scheme and application form
What type of security must I provide for a loan at Agribank?
Loans are granted against
security of fixed property, investment or any other acceptable form of security
(fixed deposits, investments and surrendering value of policies). read more