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Agribank opens new office in Omaheke – Gobabis, a strategic growth centre for the bank

Agribank opens new office in Omaheke – Gobabis, a strategic growth centre for the bank

Agribank recently opened a new office in Gobabis in the Omaheke region and is set to serve clients in the entire region.

Speaking at the official inauguration ceremony, Agribank chairperson Terttu Uuyuni said that the Omaheke region plays an important role in contributing to the Bank’s loan book.

“In the 2017/2018 financial year, Agribank recorded new business of over N$357 million of which the Omaheke region contributed N$40 million representing 11% of new business. This illustrates that Gobabis is a strategic growth centre for Agribank and we are confident that opening an office here will not only bring our services in town, but will create opportunities for Agribank’s growth”, Uuyuni said.

As part of its socio-economic transformation pillar of the strategic plan, Agribank provides training and mentorship services to farmers through the Agri-Advisory Services Division. During the 2017 – 2018 financial year, Agribank conducted 17 such interventions in 13 different locations in the Omaheke region, targeting both communal and commercial farmers.

These interventions include farmers’ information days, evening lectures, short training courses, practical sessions and excursions which covered topics such as record keeping, animal health, as well as financial and grazing management

The Agribank chairperson was pleased “that 461 people benefitted from these interventions in the Omaheke region alone of which 329 were male, while 132 participants were female”.

At the same occasion, Finance Minister Calle Schlettwein, who officially inaugurated the Agribank Gobabis office, congratulated the Bank for expanding its footprint to strategic growth centres and bringing its services closer to their clients.

The Finance minister also applauded the Bank for embarking upon the arrear collections strategy as part of its financial sustainability initiatives.

“Gone are the days where treasury support to state owned enterprises went unchecked. In fact, going forward, Government will require commercial public entities to become self-sustainable although shareholder support can still be granted where necessary”, the Minister noted.

Schlettwein further urged Agribank to continue to introduce new products that are responsive to the needs of the clients to accelerate the transformation of the agricultural sector.

Agribank loans can be utilised for purchasing farm land, production, livestock, farming infrastructure, vehicles and equipment, bush management, aquaculture, poultry, piggery, post settlement support as well as for value addition through agro-processing.

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