The Association of African Development Finance Institutions (AADFI) has rated Namibia’s agricultural bank, Agribank as “Best Performing African Finance Institution”.

Agribank achieved an overall score of 81% and obtained an A rating at the 9th Peer Review of the AADFI.
A total of 38 development finance institutions submitted their externally audited prudential ratings for assessment on standards of governance, financial prudence and operations.

Agribank was classified as Best Performing African Development Finance Institution (DFI) with a rating of A and will be presented with the prestigious award for 2019 at the General Assembly of the AADFI in Abidjan, Ivory Coast later this year. 

AADFI Chairperson Thabo Thamane, congratulated the bank board, management and staff for the record performance and urged the bank “not to relent in its efforts to entrench best practices in its operations”. 
Thamane added that the bank should “continue to sustain its development financing mandate.”
On his part, Agribank chief executive officer (CEO), Sakaria Nghikembua, expressed delight at the achievement, noting that the bank has embedded good practices in governance, as well as in financial and operational management. 

“We will continue to implement these practices to ensure that the bank is not only sustainable, but that it delivers on its core mandate of economic upliftment and contributing towards food security at both the household and national levels.”