The Agricultural Bank of Namibia has announced that Dr Raphael Karuaihe has assumed his role as substantive CEO with effect from 10 January 2022.
Agribank Board Vice Chairperson, Dagmar Honsbein, said Dr Karuaihe’s term coincides with the new 5-year strategic plan fo the bank, running 2022-2026, with a focus on business preservation and growth, financial sustainability, product and technological innovation.
“This is to enable the bank to continue delivering on its mandate of providing affordable and innovative agriculture financing solutions,” she said.
Until his appointment, Dr Karuaihe was Head of Commodities at the Johannesburg Stock Exchange in South Africa. He has been with the JSE since 2012, where he oversees agricultural and non-agricultural commodities within the Capital Markets Division.
Prior to that, Dr Karuaihe spent many years in the financial services industry where he advised institutional clients on retirement planning, investments and risk management.
Emmanuel Masule, the bank’s Executive Manager Credit, was Acting CEO.
Masule took over the role from Louis du Toit, the bank’s Chief Financial Officer who had been acting in the position for three months, following the departure of Sakaria Nghikembua who joined Momentum Metropolitan Namibia as group CEO in August last year.
