Since its inception in 2004, the Development Bank of Namibia (DBN) has rolled out N$20 billion worth of loans.
The main objective of the DBN is to promote and finance those sectors of the economy which support development and the welfare of the citizens of the country.
This was shared last week at the institution’s 20th anniversary celebrations that were held on the outskirts of Windhoek.
DBN CEO John Steytler applauded his predecessors David Nuyoma and Martin Inkumbi for the good foundation they created for the bank.
Inkumbi took over from Nuyoma in 2013 until August 2023, with Steytler taking over the reins from September 2023 to date. During Inkumbi’s tenure, the DBN’s balance-sheet expanded from N$2.03 billion in 2012 to N$9.47 billion in 2021. Inkumbi played a pivotal role in shaping the bank’s structure and operations, including implementing a risk management framework, restructuring departments, and listing a N$2.5 billion bond program me on the Namibian Stock Exchange.
“Namibia is entering the phase of growth, and this growth must be stimulated from the ground. It must be a bottom-up growth, and inclusive for everyone not to be left behind in the pursuit,” said the CEO.
Giving some highlights in DBN’s next five-year strategic plans, Steytler said the purpose is for DBN to drive Namibia’s sustainable economic development.
He stated that DBN’s operations are guided by four strategic pillars, including a focus on sustainable development and human rights, developing a vibrant organisational culture, highlighting market positioning, and assuring development effectiveness.
At the same occasion, executive director Titus Ndove commended the ban,k noting it has become the cornerstone of development in the country. “As we look ahead into the future, we recognise the critical role DBN will continue playing in shaping Namibia’s path towards prosperity and sustainability in the face of evolving challenges, including climate change and economic uncertainty,” he said.