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Blue Bank upgrades its Aussenkehr Branch

Blue Bank upgrades its Aussenkehr Branch

Having operated as the only commercial bank in Aussenkehr Valley in the //Karas Region for the past 13 years, Standard Bank has taken the lead to recently unveil a modern banking facility to the tune of N$4.5 million.

Aussenkehr valley is a leading exporter of table grapes to major world markets. The area is also home to up to 20,000 inhabitants who work in the grape industry.

With currently over 2000 hectares of grape farming production in the valley, Mungunda noted that this was a successful example of private sector investments driving the emergence of new economic activities and growth in the country.

The new Aussenkehr Branch was officially opened by Standard Bank’s Chief Executive Vetumbuavi Mungunda and the Owner of Aussenkehr Farms Dusan Vasiljevic on 6 December.

“The valley of Aussenkehr has grown and is growing fast and is a welcomed development for foreign exchange earnings, creation of employment and the creation of downstream economic activities such as retail sector. It also means that critical amenities and services such as housing, roads, schools and banking services have to follow these developments,” said Mungunda.

He thanked the investors in the Aussenkehr valley for their pioneering and entrepreneurial spirit in developing a new industry and economic sector from scratch. Mungunda noted that grape production and grape farming gives an example of the new approach to Namibia’s potential in terms of agricultural and food production.

“This is indeed a private sector driven industry where private money is invested in a venture that has proven successful and sustainable, and this should be recipe for Namibia’s approach to economic development, government allowing and enabling private sector driven investments with the availing of key infrastructure developments as well as market access” added Mungunda.

He cited that in complimenting the private sector’s drive, over the last two years Standard Bank has identified the need to establish new banking facilities in other towns like Okongo, Karibib, Gobabis, Omuthiya and Okakarara.

Mungunda encouraged the grape companies to support the Bank’s flagship Buy-a-Brick Initiative geared towards raising funds to build decent houses for no-or-low income communities as “it will be great to help build 50 or 60 new houses for the people living here in Aussenkehr.”

Welcoming the opening of the new branch, Owner of Aussenkehr Farms Dusan Vasiljevic thanked Standard Bank for being the first to invest in the valley’s potential.

“Many years ago there was nothing here in Aussenkehr, no electricity, no roads…however Standard Bank was the first to give banking services to our people in a small office. During the last two decades the grape producers who came grew the area exponentially to what it is today. Aussenkehr is unique in the world and unique in what we have achieved in a country like Namibia – this is what private sector investment is all about. I would like to therefore urge our grape workers to continue using our new banking facility here as we strive to continue to grow together,” said Vasiljevic.

The new Standard Bank Aussenkehr Branch is located at the town’s main new shopping centre which was opened in January this year.


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The Economist accommodates two interns every year, one per semester. They are given less demanding, softer issues to hone their skills, often with a specific leaning to social issues. Today, many of our interns are respected journalists or career professionals at economic and financial institutions. - Ed.