WINDHOEK – The Development Bank of Namibia says it would for the next five years focus on funding businesses in manufacturing, tourism as well as transport and logistics.
For this the DBN has set aside N$750 million to fund manufacturing, N$450 million for tourism and N$330 million for transport and logistics. The Chief Executive Officer of the DBN, Martin Inkumbi, says the outlook, which will go until 2018, is rooted in the sectors outlined in the 4th National Development Plan (NDP4). Inkumbi also identified infrastructural development as a key priority pointing to development of serviced erven and energy distribution. He said the bank has a sound track record in the development of erven and low-cost housing, and that the priority to develop affordable housing is an area in which the DBN could make a significant contribution.
He added that the DBN would also place emphasis on the development of enterprises in rural areas. He further said the DBN would not finance agriculture, since this is the ambit of the Agricultural Bank, but it would seek opportunities to finance secondary and tertiary industries related to agriculture, as a source of employment, as well as a key underpinning of food security. The bank will also begin to focus on women and youth entrepreneurs as key drivers of Namibia’s future economy.
By Staff Reporter