Louis Du Toit has been selected to temporarily lead the Agricultural Bank of Namibia (Agribank) for three months as the board has embarked on a recruitment process of a new substantive CEO. Du Toit’s appointment as acting CEO follows the departure of Sakaria Nghikembua at the end of his five-year term at the end of last month. 

The arrangement is in place for the next three months, with effect from 2 August 2021. 

Du Toit, a qualified chartered accountant, has been with Agribank since 2019. Before this, he served in various roles at PriceWaterHouseCoopers (PwC) for close to a decade, including being a partner. He also served as a chief financial officer in a multinational financial services group, for over 10 years. Additionally, he has been a member of Agribank’s executive committee. 

“As such, the bank trusts that Mr. Du Toit, as an experienced member of its executive management team, will continue to provide strategic leadership in the best interest of the bank, towards meeting its objectives,” read a statement from the bank.