Agribank, NAB sign MoU to grow agriculture
Agribank and the Namibian Agronomic Board (NAB) have signed an agreement to collaborate in interventions aimed at developing the agronomic and horticultural industry in Namibia.
According to the bank, the roles of the two institutions are interlinked, since both aim at growing the agriculture industry in the country.
Agribank’s objective is to promote agriculture and related activities by lending money to people and financial intermediaries providing affordable and innovative financing, it said.
“Similarly, the NAB is established to promote the agronomy and horticulture industry and to facilitate the production, processing, storage and marketing of controlled products in Namibia.”
Per the agreement, the two institutions intend to collaborate on specific activities aligned to their respective mandates.
Among other things, they have agreed to transform small-scale farmers through scaling-up programmes in agronomy and horticulture production, value addition and connecting them to formal markets and services for expansion.
Furthermore, promoting the adoption of relevant technologies and climate resilient strategies amongst agronomy and horticulture farmers also serves as another area of collaboration.
The scope of the agreement covers risk assessment of loan applicants who want to venture into production, value addition and storage of agronomic and horticultural products, while also evaluating the need for new loan products across the agronomic and horticultural value chain.
Committed
“The two institutions will also share information relevant to the core business of each party and collaborate in hosting of capacity-building activities to enhance the knowledge and skills in production for farmers, individuals and small and medium enterprises,” the bank said.
At the signing ceremony, Agribank’s CEO, Dr Rapael Karuaihe, said the bank is committed to the mandate of the agreement and will continue to play its part in not only promoting horticulture and agronomy, but the agriculture industry as a whole.
NAB CEO Dr Fidelis Mwazi added that the agreement demonstrates its vision of becoming a world-class regulator of a vibrant, diversified and sustainable crop industry and, therefore, they are excited to be part of such a collaboration.
The agreement is valid for five years with the option of renewal.
According to the bank, the roles of the two institutions are interlinked, since both aim at growing the agriculture industry in the country.
Agribank’s objective is to promote agriculture and related activities by lending money to people and financial intermediaries providing affordable and innovative financing, it said.
“Similarly, the NAB is established to promote the agronomy and horticulture industry and to facilitate the production, processing, storage and marketing of controlled products in Namibia.”
Per the agreement, the two institutions intend to collaborate on specific activities aligned to their respective mandates.
Among other things, they have agreed to transform small-scale farmers through scaling-up programmes in agronomy and horticulture production, value addition and connecting them to formal markets and services for expansion.
Furthermore, promoting the adoption of relevant technologies and climate resilient strategies amongst agronomy and horticulture farmers also serves as another area of collaboration.
The scope of the agreement covers risk assessment of loan applicants who want to venture into production, value addition and storage of agronomic and horticultural products, while also evaluating the need for new loan products across the agronomic and horticultural value chain.
Committed
“The two institutions will also share information relevant to the core business of each party and collaborate in hosting of capacity-building activities to enhance the knowledge and skills in production for farmers, individuals and small and medium enterprises,” the bank said.
At the signing ceremony, Agribank’s CEO, Dr Rapael Karuaihe, said the bank is committed to the mandate of the agreement and will continue to play its part in not only promoting horticulture and agronomy, but the agriculture industry as a whole.
NAB CEO Dr Fidelis Mwazi added that the agreement demonstrates its vision of becoming a world-class regulator of a vibrant, diversified and sustainable crop industry and, therefore, they are excited to be part of such a collaboration.
The agreement is valid for five years with the option of renewal.
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