New Agribank CEO Karuaihe officially takes office
The Agricultural Bank of Namibia (AgriBank) on Tuesday announced that Raphael Karuaihe has officially commenced duty as Chief Executive (CEO) of the banking institute, following his appointment by the Board in October 2021.
Prior to his appointment, Dr Karuaihe worked as the Head of Commodities at the Johannesburg Securities Exchange (JSE) in Johannesburg since 2012. At the JSE, he was responsible for overseeing agricultural and non-agricultural commodities within the Capital Markets Division.
According to Agribank’s Board Vice-Chairperson, Dagmar Honsbein, 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,” she added.
Meanwhile, 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, the 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,” concluded Honsbein.
The photo was taken after signing his contract with the Agribank board yesterday. 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.