Agribank AGM highlights positive financial results

By Martha Nangombe

FINANCE Minister Iipumbu Shiimi has applauded the Agribank Board and Management for playing an active role in agriculture transformation by contributing efforts to remove barriers across agriculture value chains.
Speaking at Agribank’s Annual General Meeting (AGM), Shiimi encouraged the bank’s leadership to use such platforms to generate opportunities for farmers and encourage them to use climate-resilient farming techniques.
The minister highlighted that his ministry is working on new approaches to public enterprise governance, such as a coordinated Board development programme for state-owned enterprises.
“We are looking at formalising performance culture as some of the key requirements for reporting at AGMs and public enterprise governance.

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The ministry is also considering leadership development within State Owned Enterprises (SOEs) and the removal of key performance indicators from strategic business plans in the future,” he said.

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The AGM provided an opportunity to highlight the bank’s accomplishments and outlined strategic goals to shape the institution’s future.
Agribank significantly increased loan disbursements during the fiscal year (FY) ended 31 March 2023, reaching over N$284 million compared to N$194 million the previous year.
Notably, these loans helped 564 consumers, up from 440 the previous year.