19 Aug 2022
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
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