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Agribank Chair reminds clients of their obligations at opening of refurbished Rundu branch

Agribank Chair reminds clients of their obligations at opening of refurbished Rundu branch

The re-opening of Agribank’s refurbished Rundu branch on Wednesday 15 February served as platform where the new Board Chairman and the Chief Executive aired their views on the bank’s short-term strategies and long-term sustainability.

The Agribank Chief Executive, Dr Raphael Karuaihe, reiterated the importance of the two Kavango regions to the bank’s operations, at the same time stating that the bank sees the agricultural potential of the larger Kavango area, as a catalyst for investments in agriculture and food processing.

Against the background of an official government policy shift to focus on value addition and growth-at-home, Agribank has realigned its strategy to start playing a meaningful role in financing value addition enterprises in agriculture.

Looking at the current loan book, Karuaihe said that the Rundu branch currently serves 316 active clients with 494 loans worth over N$154.7 million.

At the opening ceremony, Board Chair, Josephat Mwatotele, succintly named financial sustainability as a key element for the bank to fulfill its mandate to support agriculture. “Financial sustainability requires Agribank to stretch its limited resources in new and innovative ways outside the traditional areas of business; being prudent in the use of available resources in a responsible and transparent manner including cost management; and growing its loan book and finding new ways to grow its capital base.”

Naming service delivery as a key priority, Mwatotele reminded the bank’s clients that only by diligently honouring their financial obligations to the bank, can the institution make a wider and inclusive impact on agriculture and contribute to the country’s development.


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