NAB records clean audit as N$689m imports dominate regulated market

CHAMWE KAIRA

The Namibian Agronomic Board (NAB) received an unqualified audit opinion for the financial year ended 31 March 2026, while its latest annual report shows that imports accounted for 62% of regulated agronomic market volumes.

The Auditor-General, Junias Kandjeke, found that the NAB’s financial statements fairly presented its financial position and complied with applicable international public sector accounting standards.

However, the board fell short of its Primary Market Share Promotion (MSP) target during the year. It had targeted a 44% domestic market share ratio but achieved 32%.

The shortfall was attributed to agricultural imports valued at N$689 million, which accounted for 62% of the total volume in the regulated market.

The higher import volumes also increased revenue from import levies, particularly on staple grains such as white maize, wheat and mahangu.

The NAB recorded total revenue of N$218.4 million during the year, including N$168.2 million in levy income. Its net surplus declined to N$90.3 million from N$152.3 million in the previous financial year.

The board spent N$128.1 million against an approved budget of N$137.7 million. The report attributed the underspending to delays in staff recruitment and project implementation.

Employee-related expenditure amounted to N$58.9 million and was about N$8 million below budget because of vacant positions.

The NAB also donated N$2.5 million to the National Youth Fund following authorization by the minister of agriculture, water and rural development.

A further N$1.55 million was spent on crop disaster relief, while N$1.28 million was written off as irrecoverable bad debts.

Non-exchange transaction revenue amounted to N$175.2 million. Of this, grain processor levies on imports generated N$81.2 million, while horticulture levies from producers, traders and imports contributed N$62.7 million.

Local grain producer levies amounted to N$9.18 million, while grain processor levies on local production also amounted to N$9.18 million.

The board collected a further N$5.95 million from permits, registration and inspection fees. The NAB spent N$2.2 million on border control management and N$4.72 million on regulatory compliance assessments during the year.