Namibia: Process of Recruiting a New Chief Executive At Agribank Well Underway - Executive

Agribank Board Vice Chairperson, Dagmar Honsbein this week said the process of recruiting a new chief executive is well underway following the announcement that the current CEO, Sakaria Nghikembua, will leave the bank at the end of July when his term comes to an end.

The board has emphasised that Nghikembua has served his full term and has opted not to renew his contract for a second term. He will take up a role as Group Chief Executive Officer of Momentum Metropolitan Namibia effective 1 August 2021.

Commenting on Nghikembua's contribution, Honsbein stated, "It is regrettable to have to lose Mr Nghikembua to the private sector. The value he added was immense, and the board and the bank's employees will continue to build on this solid foundation."

Honsbein added that the bank's strategy and policies aimed at ensuring its sustainability, whose implementation Nghikembua dutifully championed, will continue.

On his part, Nghikembua said that he relished his role at the bank, adding: "I feel privileged to have had the opportunity to serve in this public service role over the past five years. We have done some fantastic things and have achieved quite a lot in a difficult operating environment. We have in place a good team that will continue to implement the strategy to ensure we consolidate the gains of the past years. I am truly grateful".

Meanwhile, the board and bank employees thanked Nghikembua for elevating the bank to become a premier agricultural lender and for his contributions since 2016. Through his leadership Agribank was put on a new, exciting growth trajectory.

The bank's 5-year strategy was devised and implemented. Financial sustainability became a long-awaited reality, resulting in significant growth in the bank's loan book, its interest income as well as loan repayment and expense management discipline. The governance environment was strengthened, making Agribank one of few public enterprises to complete its annual audits punctually and hold its annual general meetings on time.

More From: Namibia Economist

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