Agricultural Bank of Namibia (Agribank)’s Board Vice Chairperson Ms Dagmar Hosbein announced yesterday afternoon that the bank has recruited Dr Raphael Karuaihe to be the Chief Executive Officer starting 10 January 2022.

“Dr Karuaihe is currently the Head of Commodities at the Johannesburg Stock Exchange (JSE) in South Africa. He has been with the JSE since 2012, where he oversees agricultural and non-agricultural commodities within the Capital Markets Division,” Hosbein said.

Prior to that, Dr Karuaihe spent many years in the financial services industry where he had advised institutional clients on retirement planning, investments and risk management. He holds a doctorate in Agricultural Economics from Washington State University, USA.

“The Board and staff look forward to welcoming Dr Karuaihe to our team that is destined to take Agribank to greater heights,” Hosbein said.

Karuaihe takes over from former CEO Mr Sakaria Nghikembua who served as CEO of the agricultural bank for the last five years until 31 July 2021. The current acting CEO Mr Louis Du Toit’s stint which started on 1 August will end on 30 October.

“We are not yet sure what the Board has decided whether Mr Du Toit will continue acting until the new CEO assume office in January, or whether another executive will be made to take over in November until January,” said Magreth /Kheis, Agribank’s marketing officer.

In the photo: Dr Raphael Karuaihe.