{"id":39543,"date":"2023-02-18T13:53:52","date_gmt":"2023-02-18T13:53:52","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/agribank-upbeat-about-kavango-growth"},"modified":"2023-02-18T14:05:25","modified_gmt":"2023-02-18T14:05:25","slug":"agribank-upbeat-about-kavango-growth","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/agribank-upbeat-about-kavango-growth","title":{"rendered":"Agribank upbeat about Kavango growth"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Agribank CEO Raphael Karuaihe is upbeat about his institution\u2019s operations in the two Kavango regions.<\/p>\n

The Agribank Rundu office, which serves both Kavango regions, currently has about 316 active clients with 494 loan facilities worth over N$154.7 million, a figure he wished to see grow as the two regions have great potential.<\/p>\n

\u201cThe two Kavango regions are strategic growth centres for Agribank and we are confident that the visibly elevated office here will improve our service delivery in the regions whilst creating opportunities for growth,\u2019\u2019 he said during the inauguration of the bank\u2019s revamped office in Rundu on Wednesday. The revamp cost about N$9 million. The complex also has rental facilities that are leased out.<\/p>\n

\u201cThe Kavango East region has the biggest number of clients standing at 305, worth over N$151 million, while Kavango West, with 11 clients, has a loan book value of N$2.9 million,\u2019\u2019 he noted.<\/p>\n

Karuaihe stated that loans worth over N$3.1 million were recently also advanced to 37 youth members in the two regions, while 67 women benefitted from Agribank loans in the same regions worth over N$9.2 million.<\/p>\n

\u201cThe number of women and youth could be higher, if one considers that the bank has also advanced loans to groups, companies and projects involving women and youth valued at over N$85.7 million in these two regions alone,\u2019\u2019 he said.<\/p>\n

There is an opportunity for young people of these two regions to be excited as access to financing viable agricultural projects through Agribank is possible, he said.<\/p>\n

\u201cMore importantly, it tells me that my team from Rundu needs to get of out of their comfort zones and intensify business leads, more particularly in the Kavango West region so that the next time we have an engagement opportunity of this nature, the numbers tell a different narrative,\u2019\u2019 the bank CEO noted.<\/p>\n

Karuaihe said there is a need to devise deliberate initiatives to ensure the participation of residents from Kavango West in Agribank\u2019s loan product portfolio.<\/p>\n

Kavango East governor Bonifatius Wakudumo said it was pleasing to note that the bank is now stepping up its game to finance the secondary production in the agricultural sector \u2013 namely value addition.<\/p>\n

\u201cIt is also common knowledge that a number of green scheme projects are found in this part of the country. I, therefore, want to challenge our small scale, as well as commercial producers to also step up their game. Let us set up factories to manufacture our own tomato sauce \u2013 let us set up factories to tin our fruits and vegetables,\u201d he said.<\/p>\n

Wakudumo said Namibia cannot continue to import basic products and that it is high time Namibians in the farming sector step up and enter the food processing sector.<\/p>\n

\u201cIf we organise ourselves and take advantage of this facility by Agribank, we should be able to penetrate this lucrative market and make a mark in our quest for food security and value addition.\u2019\u2019<\/p>\n

\u201cYou can only imagine the economic spin-offs from such arrangements as more jobs will be created, people will be up-skilled, demand for more services will be created and we would have contributed tangibly towards the national development goals,\u201d he noted.<\/p>\n

The governor urged agripreneurs in both regions to go back to the drawing board and develop bankable business plans in order to add value to their local produce. The governor pledged his support towards Agribank in assisting local farmers to come to party and assist the bank to also deliver on its mandate to ensure a bigger developmental impact in the country.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Agribank CEO Raphael Karuaihe is upbeat about his institution\u2019s operations in the two Kavango regions. The Agribank Rundu office, which serves both Kavango regions, currently has about 316 active clients with 494 loan facilities worth over N$154.7 million, a figure he wished to see grow as the two regions have great potential. […]<\/p>\n","protected":false},"author":84,"featured_media":39542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-39543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nAgribank upbeat about Kavango growth - Namibia<\/title>\n<meta name=\"description\" content=\"Agribank CEO Raphael Karuaihe is upbeat about his institution\u2019s operations in the two Kavango regions. 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