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Objectives of the Agribank
The objective of the Agribank is to promote agricultural or activities related to agriculture by money lending.
- To persons, which money is to be used in connection with agriculture or activities related to agriculture; and
- To financial intermediaries, who or which in turn lend money to persons for the purposes contemplated in paragraph
Agribank Strategic business Plan
The Agricultural Bank of Namibia (“Agribank”) is a state-owned financial institution with the mandate to advance money to persons or financial intermediary for the development of agriculture and activities related to agriculture. The strategic business plan should strengthen the Bank position within the Namibian Agricultural sector and continue to support Government’s policies and interventions in line with Vision 2030 and the Third National Development Plan (“NDP 3”).
Strategic Business Objectives
Diversify product portfolio and markets
Agribank needs to raise funds at affordable interest rates for on-lending to clients for the development of agriculture and activities related to agriculture, expand its product base to include aquaculture, forestry, insect raising and control, etc., and support emerging farmers in the broader-based initiatives in accordance with the NDP III and Vision 2030 without compromising on the quality of the loan book.
Financial Sustainability
Long-term sustainability is imperative for effective service delivery to various stakeholders with cost containment and in compliance with BASEL II and Bank of Namibia regulations. Sustainable Agribank shall be in a position to attract external financial investment and build trust among its clients and supporting institutions (including donors).
Client Focus
Agribank is passionate about client service delivery to guarantee the satisfaction at all times, from friendly and attentive staff to prompt response when confronted with product defects. In this respect, the Bank’s corporate culture re-oriented towards dramatically improving its service delivery in line with the approved policies and procedures of corporate communication. The Bank shall implement a client interaction program that is supported by well trained and equipped staff.
Business Efficiency
Agribank is seriously investing in infrastructure to optimize operational efficiency in order to improve productivity and reduce costs. Supportive processes and systems play a significant role in improving business efficiency and ensuring that clients, employees, and suppliers get secure access to real-time data that will improve decision making and, ultimately, client service.
Ensuring regulatory compliance to BASEL II and the Bank of Namibia regulations mandating higher levels of information security and quality data is another ongoing challenge for Agribank.
Empowered Human Capital
Agribank shall empower it’s workforce and develop Human Resources in line with its deliverables and strategies in the implementation of change management, training and mentoring, to cultivate a culture of innovation.
Socio-Economic Development
Agribank shall always promote networking and partnerships for training, skills development, and information management in the quest to reduce poverty and increase job creation for a prosperous nation tomorrow.