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37 youth and 67 women's organizations have received loans of more than N$12 million from Agribank in the Kavango West and East regions.

Agribank revealed this during the inauguration of its offices in Rundu.

The Agribank offices at Rundu serve 316 active clients with 494 loan facilities totaling more than N$154,7 million.

"Over the past five years, Agribank has embarked on a journey not only to transform the institution to become the pinnacle of corporate governance and service delivery efficiencies but also to ensure that we play a meaningful role in catalyzing the transformation and growth of the agricultural sector. This we did through the adoption of a clear strategic plan, fully aligned to the Harambee Prosperity Plan, which, among other things, provides for a renewed focus on the customer, financial sustainability, best-practice corporate governance, employee development, and socio-economic transformation," said Dr. Raphael Karuaihe, Chief Executive Officer of Agribank.

The Kavango East Region has the most clients (305), with a loan book worth more than N$151 million, while the Kavango West Region has 11 clients and a loan book worth N$2,9 million.

"Based on the numbers mentioned here, I see that Kavango, both Kavango regions, are underrepresented in terms of your uptake of the various products, and I would really like to see you take up your fair share of the resources that are available through Agribank, the various room products, so I look forward and I will be keeping a close eye on making sure that you step up to the party and access some of these resources and products that are available through Agriban."

Kavango East Governor Bonifatius Wakudumo encouraged communal farmers to take advantage of the financial resources at Agribank.

"I am captivated by the statistics presented earlier on by the Agribank Chairperson and the Chief Executive Officer. And I am convinced that we can do more to help many other farmers, whether small or medium to large scale, access financial from Agribank, and if we listened carefully to the Chairperson of the Agribank Board of Directors, he extended an invitation to the two regions, and many times we complain, we say that the region is left out, the region is left behind, but we have a fair share in Agribank's interest in accessing finance."

The Rundu Agribank office was renovated at a cost of N$8.1 million.

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Photo Credits
Agribank

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Author
Elizabeth Mwengo