Extension of Amb.Leonard N.Iipumbu`s Contract as Chief Executive Officer of the Agriculture Bank of Namibia (Agribank)

June 18, 2015, 2:34pm

Extension of Amb.Leonard N.Iipumbu`s Contract as Chief Executive Officer of the Agriculture Bank of Namibia (Agribank)

The Board of Directors of the Agricultural Bank of Namibia is proud to announce the extension of the contract for Amb.Leonard N.Iipumbu with 15 months from 1st May 2015 to 31st July 2016.

Amb.Leonard N.Iipumbu joined Agribank in Febuary 2005 appointed as Chief Executive Officer (CEO) of bank,after serving as Namibian Ambassador to the French Republic and United States of America respectively spanning over 14years. During his 10 years tenure at Agribank, Amb.Leonard N.Iipumbu transformed the bank into a more versatile and responsive financial institution in order to meet the bank mandate of promoting agriculture or activities related to agriculture by lending money to persons and/or financial intermediaries for purposes related to the development of the agriculture industry. Under his leadership, Agribank growth and performance of the loan book averaged 8.5 percent over a period of ten years from a networthiness of N$672 million in 2004 to N$1.8 billion in 2014.

The Board is confident that Amb.Iipumbu will continue to lead Agribank forward and drive the business strategic intent to contribute to the reduction of poverty and help facilitate the achievement of Vision 2030.

The Board of Directors extends their congraculations to Amb.Leonard N.Iipumbu and wish him well and much success in his endeavour