Agribank keen to unlock growth potential
Agribank opened a new office in Grootfontein as part of its on-going strategy to put clients at the centre of its activities.
PHILLEPUS UUSIKU
Despite a sustained economic recession over the past 5 years, the agricultural sector contributed an average 8% to the domestic economy, while at the same time, accounting for about 23% of the total employment.
Namibia’s Premier Agricultural Lender (Agribank) has lent over N$1.5 billion in new loans to the agricultural industry over the past five years. In addition, the bank grew its income base and achieved a significant reduction in its rate of expense growth over the same period, whilst maintaining annual surpluses.
They opened a new office in Grootfontein as part of its on-going strategy to put clients at the centre of its activities.
The office will be of critical significance to farmers in the Tsumeb, Otavi, Grootfontein triangle, an area with one of the best fertile land, abundance of underground water and mineral resource endowments in the country.
According to the governor of Otjozondjupa region, James Uerikua, in his keynote address at the inauguration ceremony mentioned that the Covid-19 pandemic poses some serious challenges to Namibia’s food sustainability in the short term and there is an opportunity to accelerate transformation in the agricultural sector to build its resilience in the face of these challenges.
Vision
“I thus congratulate the board and all Agribankers respectively for their vision to bring services closer to the agricultural communities and for implementing this vision. What an outstanding achievement in the midst of tough economic and climatic environments,” Uerikua stated.
He explained that as a government expects state-owned enterprises to be managed on a financially sustainable basis whilst providing much-needed goods and services to all Namibians, irrespective of where they live. “I am fully aware of the positive achievements which Agribank has been making over the past five years”, he concluded.
Speaking on behalf of the Agribank board, Peyavali Hangula described the opening of the new office in Grootfontein as a yet another milestone in the bank’s journey towards customer excellence, as it enables the Bank to expand its reach, and improve its accessibility to clients and stakeholders nationally.
She adds that the Otjozondjupa region is an important farming region in the country, which balances both livestock and crop production, making it equally important to Agribank, whose mandate is to support agriculture through funding. “It is against this backdrop that we felt it necessary to increase our footprint in this region, Hangula [email protected]
Despite a sustained economic recession over the past 5 years, the agricultural sector contributed an average 8% to the domestic economy, while at the same time, accounting for about 23% of the total employment.
Namibia’s Premier Agricultural Lender (Agribank) has lent over N$1.5 billion in new loans to the agricultural industry over the past five years. In addition, the bank grew its income base and achieved a significant reduction in its rate of expense growth over the same period, whilst maintaining annual surpluses.
They opened a new office in Grootfontein as part of its on-going strategy to put clients at the centre of its activities.
The office will be of critical significance to farmers in the Tsumeb, Otavi, Grootfontein triangle, an area with one of the best fertile land, abundance of underground water and mineral resource endowments in the country.
According to the governor of Otjozondjupa region, James Uerikua, in his keynote address at the inauguration ceremony mentioned that the Covid-19 pandemic poses some serious challenges to Namibia’s food sustainability in the short term and there is an opportunity to accelerate transformation in the agricultural sector to build its resilience in the face of these challenges.
Vision
“I thus congratulate the board and all Agribankers respectively for their vision to bring services closer to the agricultural communities and for implementing this vision. What an outstanding achievement in the midst of tough economic and climatic environments,” Uerikua stated.
He explained that as a government expects state-owned enterprises to be managed on a financially sustainable basis whilst providing much-needed goods and services to all Namibians, irrespective of where they live. “I am fully aware of the positive achievements which Agribank has been making over the past five years”, he concluded.
Speaking on behalf of the Agribank board, Peyavali Hangula described the opening of the new office in Grootfontein as a yet another milestone in the bank’s journey towards customer excellence, as it enables the Bank to expand its reach, and improve its accessibility to clients and stakeholders nationally.
She adds that the Otjozondjupa region is an important farming region in the country, which balances both livestock and crop production, making it equally important to Agribank, whose mandate is to support agriculture through funding. “It is against this backdrop that we felt it necessary to increase our footprint in this region, Hangula [email protected]
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