Raphael Karuaihe has officially assumed duty at the Agricultural Bank of Namibia as the new CEO. This follows his appointment by the board in October 2021.
Karuaihe worked as head of commodities at the Johannesburg Stock Exchange (JSE) since 2012 before his new appointment. He was responsible for overseeing agriculture and non-agriculture commodities.
The deputy board chair Darmar Honsbein said the new CEO has been in the financial industry for some time: “Before joining JSE, he spent some time in the financial service industry, where he had advised institutional clients on investments and risk management”.
Experience and knowledge
“Karuaihe brings along a wealth of unique experience and knowledge to the chief executive position. The board and staff of the bank place considerable trust in him to carefully navigate the agricultural bank during the current trying times. The bank needs all hands on deck to mitigate challenges and risks to the agri-business environment, such as the protracted drought and the impact of Covid-19 outbreak on the agricultural sector,” added Honsbein.
According to the deputy chair, the term coincides with the new five-year strategic plan of the bank, running 2022-2026, with a special focus on business preservation and growth, financial sustainability as well as product and technological innovation.
This is to enable the bank to continue delivering on its mandate of providing affordable and innovative agriculture financing solutions. Among other qualifications, Karuaihe holds a doctorate in agricultural economics from the Washington State University, USA, and a Master of Business Administration in Banking and Investment Management from the Maastricht School of Management in the Netherlands.
