The Board of the Agricultural Bank of Namibia (Agribank) has confirmed the appointment of Sakaria Nghikembua as the bank’s new Chief Executive Officer, with effect from August 1, 2016. Nghikembua succeeds Ambassador Leonard Iipumbu, who retires on July 31.
Widely regarded as a highly effective and transformational business leader, Nghikembua previously led the transformation of Namibia Post Ltd as its Chief Executive Officer, and later served as Chief Executive Officer of Operations at Old Mutual in Namibia and as Managing Director of Old Mutual Short-term Insurance Company (Namibia) Ltd. In the latter role, Nghikembua led the successful integration of the former Mutual and Federal Insurance Company of Namibia Ltd into Old Mutual Holdings (Namibia).
Within Old Mutual, furthermore, Nghikembua served as the founding Executive and Chairman of Old Mutual Finance (Namibia) Pty Ltd (a lending company); and further served at different periods on the Boards of Old Mutual Transactional Services, Old Mutual Properties, the Old Mutual Foundation and the Investment Committee of the Old Mutual Investment Group (Namibia).
Nghikembua holds a Bachelor of Economics degree (A-average) from the University of Namibia and a Master of Science degree in Financial Economics from the University of London; and has completed an Executive Development Programme (EDP) from the University of Cape Town. In addition, Nghikembua has completed various Strategy and Leadership courses from the University of Wits (SA), INSEAD in France and the Old Mutual Business School (SA).
Nghikembua emerged as the most suitable candidate to lead Agribank following a rigorous selection process that included an on-the-spot Business Strategy presentation to the Board, a competency-based interview with the Board and a battery of ten Ability and Personality assessments administered by professional psychometrists.
Says Terttu Uuyuni, Chairperson of Agribank: “We are truly privileged to have attracted a person of Nghikembua’s calibre. We are confident that he will provide the necessary leadership to ensure we not only meet and exceed our mandate but that we remain a champion for agricultural development in our country.”
On his part, Nghikembua stated: “I feel honoured to have been accorded this opportunity to serve my country and people in this role. As always, I will apply myself fully to ensure I deliver on the mandate before us. We need to be the pre-eminent bank for financing the growth and development of agriculture in our country. We need to be functionally efficient. We need to have financing solutions that are relevant to both commercial and emerging farmers. And we need to support the growth of agribusinesses in our country.”