The Development Bank of Namibia (DBN) yesterday launched a new financing product to increase access to credit for women-owned businesses.
The product, called DBN for Her, is designed to address a long-standing funding gap for women entrepreneurs.
Speaking at the launch, DBN acting chief investment officer Cliffy Nauses said the initiative is part of its mandate to drive economic development through lending, with a focus on inclusion, job creation, and support for small and large businesses.
“Today is not just about launching a product. It is about reaffirming our commitment to inclusive economic growth and meaningful participation,” a DBN representative said.
The bank said women make up more than half of Namibia’s population yet continue to face barriers in accessing finance. Without targeted interventions, these challenges are likely to persist.
“Access to finance is more than capital. It allows women to grow businesses, create jobs, and contribute to the economy,” she said.
Officials stressed that the initiative is not meant to exclude men, but to correct imbalances in the financial system.
“If we do not design solutions for women, we will unintentionally exclude them,” the bank said. Figures presented at the event show a decline in financing for women over the years.
DBN’s highest level of approvals for women was recorded in 2017 at 22.6%.
In the current financial year, for the 11 months ending February 2026, approvals to women stood at about 5%.
“This does not make good reading. We hope this product will improve these numbers,” she said. Funding to young women entrepreneurs currently stands at 21%, amounting to about N$392 million. Regionally, Khomas leads in funding, followed by Erongo.
The new facility offers loans at the prime interest rate, with no additional charges. It also includes a 12 month grace period, during which no capital repayments or interest will be required.
“This means if a client takes a loan today, there will be no repayment or interest for the first 12 months,” Nauses said. She further said the product also includes a credit guarantee scheme to assist women who lack collateral, a major barrier to accessing finance.
Loan terms can extend up to 10 years, depending on the nature of the project.
Chief Investment Officer at the African Development Bank (AfDB), Alex Area, said the AFDB is supporting the initiative through funding and technical assistance.
AfDB said it has committed to ensuring that a large share of its projects benefit women and girls. It also provides risk-sharing mechanisms to encourage lending.
“Without capital, opportunities remain limited,” Area said.
He said the bank has approved billions in financing for women across Africa and is working with multiple financial institutions to expand access.
In Namibia, studies show a financing gap of about US$195 million for women-owned small businesses, despite high levels of access to bank accounts.
“The issue is no longer access to banking, but access to opportunity,” AfDB said.
The Ministry of Gender Equality and Child Welfare executive director, Lydia Indombo, welcomed the initiative, describing it as a step towards meeting national and regional commitments on gender equality.
The ministry said the programme supports Namibia’s development goals, including job creation and poverty reduction.
“Empowering women is not charity. It is an investment in progress,” a ministry statement said.
The Ministry of Finance’s deputy director of assets; Debt and cash management, Salome Iidhenga also backed the initiative, calling it a “deliberate intervention” to correct structural imbalances in the economy.
Data presented showed that women-owned businesses have received just over 14% of DBN’s total funding to date.
“These figures reflect a gap that must be addressed,” she said.
She further said the success of the programme will depend on its reach, especially in rural areas.
Women entrepreneurs have been urged to take advantage of the facility to grow their businesses and create jobs.
-pmukokobi@nepc.com.na