The Agricultural Bank of Namibia (Agribank) and the German Sparkassenstiftung for International Cooperation (DSIK) have signed a cooperation agreement to strengthen financial inclusion and enterprise development.
The agreement was signed on Thursday and is the beginning of a partnership to improve access to financial services, supporting small and medium enterprises (SMEs) and enhancing agri-businesses.
According to a joint statement issued by the two institutions, the partnership forms part of DSIK’s regional project titled Financial Inclusion and Medium/Small Enterprise Promotion for Employment and Resilience in Southern Africa.
The partnership is being implemented in Namibia, Zambia and Malawi with support from the German federal ministry for economic cooperation and development.
The statement says the project seeks to strengthen SMEs, improve access to financial services, promote financial literacy and support sustainable and gender-equitable employment opportunities.
Agribank says the partnership will strengthen its efforts to provide sustainable financial and non-financial solutions to the agricultural sector through technical assistance, knowledge transfer and implementation support.
The key areas of cooperation include training programmes for agricultural SMEs, internal staff capacity building and the development of sustainable financing solutions aimed at supporting the bank’s strategic objectives.
Agribank acting chief executive Abel Akayombokwa says the collaboration aligns with the bank’s mandate to advance inclusive agricultural development and expand access to financial services.
“This partnership represents an important milestone in Agribank’s efforts to enhance financial inclusion and strengthen the capacity of farmers and agri-entrepreneurs,” he says.
