Iipumbu visits northern regions

OSHAKATI – The Namibian economy should be transformed from an import- to an export-oriented one to create value addition through diversification to areas such as vegetable gardening, poultry rearing, oil extraction and aquaculture.

The new Chief Executive Officer of the Agricultural Bank of Namibia, Leonard Iipumbu, said this when addressing stakeholders at Oshakati in the Oshana region during his working visit to the north-central regions on Tuesday. Iipumbu emphasised that his Bank was prepared to finance agricultural businesses and projects, but only when a viable business plan was presented.According to him, Agribank will finance sustainable and viable business plans, capital projects and small-enterprise projects that will have an impact on the country’s economy in terms of food production and job creation.”To access financing, there should be a good business plan indicating all cash flows, expenses and income projections,” said Iipumbu.Iipumbu encouraged his bank’s clients to maximise their productivity to make the country self-sufficient in food production.He said Agribank was promoting these ideas in order to establish national food stockpiles in the event of natural disasters.Said Iipumbu: “Promotion of a national strategy on food security will receive the highest priority in order to establish food reserves for sustainability, even in times of disasters.”The new Agribank CEO emphasised that since other local and foreign financial institutions fund his Bank, its borrowers are obliged to pay back the loans Agribank has offered them.-NampaIipumbu emphasised that his Bank was prepared to finance agricultural businesses and projects, but only when a viable business plan was presented.According to him, Agribank will finance sustainable and viable business plans, capital projects and small-enterprise projects that will have an impact on the country’s economy in terms of food production and job creation.”To access financing, there should be a good business plan indicating all cash flows, expenses and income projections,” said Iipumbu.Iipumbu encouraged his bank’s clients to maximise their productivity to make the country self-sufficient in food production.He said Agribank was promoting these ideas in order to establish national food stockpiles in the event of natural disasters.Said Iipumbu: “Promotion of a national strategy on food security will receive the highest priority in order to establish food reserves for sustainability, even in times of disasters.”The new Agribank CEO emphasised that since other local and foreign financial institutions fund his Bank, its borrowers are obliged to pay back the loans Agribank has offered them. -Nampa