The
newly appointed Board Chairperson of the Agricultural Bank of Namibia, Mr.
Josephat Mwatotele, has announced that financial sustainability, service
delivery and socio-economic
transformation will be the key focus areas during their tenure as Board of
Directors of the Bank. Mr.
Mwatotele made the announcement during the inauguration of the revamped
Agribank Rundu offices, on Wednesday, 15 February 2023.
The
Agricultural Bank of Namibia (Agribank) and the Development Bank of Namibia (DBN)
have signed a memorandum of understanding (MoU) to cooperate and co-finance controlled
environment agriculture activities in Namibia. The signing took place on 01
December 2022, in Windhoek.
The MoU recognises the joint interests
of the two banks in promoting agriculture as a route to economic activity and
food security. Agribank promotes agriculture through financing the entire agriculture
value chain and related activities. DBN provides finance for agricultural
infrastructure, manufacturing of agricultural inputs and provision of
agricultural services, as well as enterprises that process agricultural produce
and manufacture food.
Controlled environment agriculture
finance envisages provision of land and facilities that enable consistent
productivity with infrastructure that reduces the impact of drought and
variable weather. This may include hydroponics, vegetable tunnels and green
schemes. It also encompasses aquaculture.
In terms of the MoU, the banks will also
identify parallel opportunities of mutual interest. For instance, if DBN
receives a request for direct financing for agriculture it will refer the
request to Agribank. Agribank may similarly refer requests for financing for
agri-processing facilities to DBN. Both banks may collaborate on finance for
controlled environment agriculture.
At the
signing ceremony, Agribank’s Chief Executive Officer, Dr Raphael Karuaihe, said
collaboration with other institutions to pool financing resources speaks
directly to the Bank’s strategic initiative of targeting high impact projects
to transform our economy and the agriculture sector, in particular.
DBN CEO
Martin Inkumbi, stated that DBN has identified controlled environment
agriculture to focus on, as this industry inherently mitigates many of the
risks usually associated with agriculture, and with limited background in
agriculture, it greatly reduces the risk DBN has to mitigate and manage in the
agricultural space.
The
Memorandum of Understanding is valid for two years from the date of signature,
with the option for renewal at the end of the term.
As
a strategic player in the agriculture sector, Agribank continuously supports the agricultural sectorin the
country as part of its mandate to promote growth and development of the sector. Agribank’s support
is not limited to
its core mandate of financing agriculture
and agriculture related businesses,
but also takes interest in
socio-economic issues that do not necessarily have impact on financial
performance of the Bank. In this regard, Agribank provides sponsorship towards
support of local agriculture shows and exhibition events
country wide.
Agribank
strongly believes that
support to such events does not only promote brand visibility, generate sales
leads but it also serves as a platform for farmers and all stakeholders across
the value chain to share information experience to improve productivity and
sustainability of the agriculture sector. The shows and fairs provide an opportunity for farmers to market their
produce and generate income and
for other players across the value chain to showcase inputs, services, technologies
and innovation necessary for the growth and development of the sector and the
economy at large.
Agribank
therefore recognizes these
opportunities, and thus has taken a deliberate decision to support local agricultural
shows and exhibition events through its corporate social responsibility (CSR). Through this avenue, the Bank
is ploughing back to the community while also stimulating business activities
in the agriculture industry and the country at large.
For
the past financial years 2019/2020, 2020/2021, and 2021/2022, the
Bank spent an amount of N$1.066million towards its corporate
social responsibility. The CSR
investments focused mainly on supporting livestock auctions,
horticulture production, agro-processing, and farmers’ support services. The
social responsibility support was not only provided to agricultural shows and
exhibitions, but a substantial amount also went into agricultural projects and
initiatives such as community and school gardens, aimed at uplifting
sustainable community food security programmes and entrepreneurial capabilities. In addition, industry
partners such as farmers' unions, consortiums, congresses, and cooperatives
also formed part of the beneficiaries of the corporate social responsibility
fund of the Agribank.
The
Bank is always inundated with requests for support and sponsorship from various
institutions and groups. However, considering the difficulties within the
business environment that the Bank operates in, the process of allocating funds
ensures an equitable distribution of resources across all the 14 regions of the
country. The Bank also proactively looks for strategic agriculture events and
projects for possible support and sponsorship, in line with its policy and
procedures.
Issued
by:
Fillemon Nangonya
Public Relations Officer
For
inquiries, kindly contact the Marketing and Communications Division
Tel.: 061 2074355
Email: info@agribank.com.na
Namibia’s premier agricultural lender, Agribank, is delighted
to inform the public that the recently launched biomass value chain financing
scheme, is now available to the public. This special scheme is aimed at meeting
the strategic objective of loan book diversification coupled with the Banks
mission to continuously offer innovative agricultural financing solutions.
The Biomass industry has the potential to improve the
streamflow of underground water, refine rangeland productively, create
sustainable employment and serve as an opportunity for farmers to diversification
revenue streams. In addition, the
industry will promote climate smart agricultural practices.
Under the Biomass value chain financing scheme, an
applicant (legal entity or individual) 1) can be the owner of the farm or
leasing a farm from which he/she can harvest biomass to produce charcoal. 2) can
be a processor who buy in charcoal to process and pack for the end market (i.e
retail shops/ restaurants or export/import companies for charcoal. Both
applicants are required to have a permit from the Ministry of Environment,
Tourism and Forestry, in order to harvest the biomass for charcoal.
For charcoal producers, the facility offers loans for
working capital (including food rations for the employees), tractors/trailers,
storage sheds, de-bushing equipment, workers housing including clean water &
sanitation. As for charcoal processors, financing of working capital, general
equipment and vehicles, maintenance workshop, office to operate from, charcoal
processing plant, warehouse and equipment is offered.
For more information, and to apply for the biomass
financing scheme, applicants, can visit any of the Agribank’s offices
countrywide, or the Bank’s website (www.agribank.com.na) or the Biomass Finance Scheme Brochure.
The Bank will continue to play a meaningful
role in ensuring that both communal and commercial farmers have affordable
access to financing, to take
the agricultural sector to the next level.
Issued
by:
Fillemon Nangonya
Public Relations Officer
For
inquiries, kindly contact the Marketing and Communications Division
Tel.:
061 2074355
Email: info@agribank.com.na
Namibia’s premier agricultural lender, Agribank, spearheaded a stakeholder engagement event in Gobabis, Omaheke region, bringing together
all agriculture role players in the region, to consult and engage on how best
to serve farmers in the cattle country. The event took place on Wednesday, 19 January
2022.
Farmers’ union representatives formed part of the
engagement, and presented their challenges, while also proposing solutions.
Among others, farmers indicated that due to drought, farmers are now
disintegrated as each farmer is now focused on the survival of his/her farm,
resulting in less peer-to-peer interactions. As such, farmers are proposing for
Agribank to champion events for farmers to come together, and share information
on addressing various challenges they face.
It was further proposed for Agribank to provide
certificate of attendance and/or accreditation to farmers, after attending
farming trainings facilitated by Agribank. According to farmers, this will help
when applying for resettlement farms at the Ministry of Agriculture, Water and
Land Reform.
Farmers also encouraged synergies between all key
stakeholder in the region, to ensure that bottlenecks in the process of serving
farmers are addressed from all angles. During the engagement, stakeholders
presented their respective roles in the process of developing and promoting
agriculture in the country. Additionally, Agribank loan application processes
and requirements also featured.
On behalf of Agribank, Mr. Regan Mwazi, Executive
Manager Marketing and Customer Strategy responded to some of the issues raised
and praised the institutions for attending and providing inputs. “It is only through stakeholder engagements
such as this one where local solution to local challenges can be provided and
opportunities identified for exploitation to the benefit of the farming
industry,” he stated. Mr. Mwazi also
urged farmers to be organised in order to be heard and take seriously the
information provided to them through various platforms in order to improve
their respective farming techniques.
Commenting on the engaged, Emilie Abraham, Manager:
Horticulture Market Development, Namibia Agronomic Board, expressed her satisfaction
with the meeting, noting that the event helped in providing context on the
responsibilities of individual stakeholders, while also clarifying such
functions in the chain of helping farmers, and growing the sector.
Recently, Agribank’s newly appointed Chief Executive
Officer, Dr Raphael Karuaihe announced that stakeholder engagements will be at
the core of his 100 days in office. As such, more events of similar nature will
be conducted at the auspices of Agribank.
The following institutions were represented: Omaheke Regional
Council, Farmers Unions and Associations, Namibia Agronomic Board, Meat Board
of Namibia, NAMPOL Stock Theft Unit, Ministry of Agriculture, Water and Land
Reform, Ministry of Environment, Forestry and Tourism, Witvlei Village Council,
and the Namibia Biomass Industry Group.
Mr. Regan Mwazi (in blue), Executive Manager Marketing and Customer
representing Agribank during the engagements.
Issued
by:
Fillemon Nangonya
Public Relations Officer
For
inquiries, kindly contact the Marketing and Communications Division
Tel.:
061 2074111
Email: info@agribank.com.na
Agribank’s newly appointed Chief
Executive Officer, Dr Raphael Karuaihe, revealed his first 100 days plan at the helm of the Bank. Dr
Karuaihe made the revelation during his first staff address on Friday, 14
January 2022.
Before detailing his plan, Dr Karuaihe
noted that “I am cognisant of the harsh realities in our country, the extreme
drought, flood and other calamities hurting farmers, who are our
clients, and
therefore necessitating urgent and timely customer service.”
For this reason, Dr Karuaihe has
prioritised stakeholder engagements to be key during his first 100 days, as he wants to listen to
farmers, clients, the shareholder, and other key stakeholders to understand
their perspectives and expectations. “This will assist me in developing the
roadmap towards the fulfillment of the institutional mandate,” he said.
Improvement of operational efficiencies
is another area of focus, during the period. This is inclusive of cost
containment measures, and enhancement of customer service at the
Bank, ensuring that clients are served with excellence, since this has an
impact on Agribank as a brand. Dr Karuaihe further singled out the plan of building on
a good business model that is already established at the Bank, as another action item
during his first 100
days in office. On this area, he stated that, “I must say, I found a very
well-run institution, and there is no need for a crisis management, I will however
strive to
improve on what I found.”
The CEO also aims to promote research
and development in the Bank, to ensure that data on the Bank’s impact in the
country “is well analysed and dissected for efficient planning and execution
purposes,” he stated. Addressing key person’s risk and staff retention are also
other areas to occupy his time during the period, with the eye of ensuring
business continuity.
Lastly, according to Dr Karuaihe at the
end of his 100 days period in office, he will present a road map to the Board
of the Bank. This will detail his plan and vision for the Bank, during his
tenure as CEO.
Issued
by:
Fillemon Nangonya
Public Relations Officer
For
inquiries, kindly contact the Marketing and Communications Division
Tel.:
061 2074111
Email: info@agribank.com.na
Agribank
takes pleasure to announce that Dr Raphael Karuaihe has officially commenced duty
as Chief Executive Officer (CEO) of the Agricultural Bank of Namibia, 10
January 2022. This follows his appointment by the Board of the Bank, in October
2021.
Prior
to his appointment, Dr Karuaihe worked as the Head of Commodities at the
Johannesburg Stock Exchange (JSE) in South Africa; since 2012. At the JSE, he was responsible for overseeing
agricultural and non-agricultural commodities within the Capital Markets
Division.
Dr
Karuaihe is no stranger to financial services. Before joining the JSE, he spent
many years in the financial service industry where he had advised institutional
clients on investments and risk management.
Dr
Karuaihe brings along a wealth of unique experience and knowledge to the chief
executive position. The Board and staff of the Bank place considerable trust in
him to carefully navigate the agricultural bank during the currently trying times.
The Bank needs all hands on deck to mitigate challenges and risks to the agri-business
environment, such as the protracted drought and the impact of Covid-19 outbreak
on the agricultural sector.
Dr
Karuaihe’s term coincides with the new 5-year strategic plan of the Bank,
running 2022-2026, with a special focus on business preservation and growth,
financial sustainability, product, and technological innovation. This is to
enable the Bank, to continue delivering on its mandate of providing affordable
and innovative agriculture financing solutions.
Among
other qualifications, Dr Karuaihe holds a doctorate in Agricultural Economics
from the Washington State University, USA, and a Master of Business
Administration in Banking and Investment Management from the Maastricht School
of Management, in the Netherlands.
The Board
of Directors and staff welcome and wish Dr Karuaihe well in his new role. We assure
him of our impartial support in the execution of his executive responsibilities.
We are certain that he will take the Bank to the next trajectory.
In the picture from left to right: Dr Michael Humavindu, Board Member;
Dr Raphael Karuaihe, Agribank CEO; Ms. Dagmar Honsbein, Board Vice Chairperson;
and Mr. Alfred Sikopo, Board Member.
Issued by:
Dagmar
Honsbein
Board Vice Chairperson
For inquiries, kindly contact
the Marketing and Communications Division
Tel.: 061 2074111
Email: info@agribank.com.na
The Board of the
Agricultural Bank of Namibia is pleased to announce the
appointment of Dr Raphael Karuaihe as the incoming Chief Executive Officer
(CEO) of Agribank, with effect from 10 January 2022.
Dr
Karuaihe is currently the Head of Commodities at the Johannesburg Stock
Exchange (JSE) in South Africa. He has been with the JSE since 2012, where he
oversees agricultural and non-agricultural commodities within the Capital
Markets Division. Prior
to that, Dr Karuaihe spent many years in the financial services industry where
he had advised institutional clients on retirement planning, investments and
risk management. He holds a doctorate in Agricultural Economics from Washington
State University, USA.
The
Board and staff look forward to welcoming Dr Karuaihe to our team that is
destined to take Agribank to greater heights.
Dr Raphael Karuaihe – Incoming
Agribank CEO
Issued
by:
Dagmar Honsbein
Board
Vice Chairperson
For enquiries, kindly contact the Marketing and Communication
Division
Tel.: 061
2074308/10Fax:
061 2074206
Email: info@agribank.com.na
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
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Yes, Agribank can assist you to start farming. read more