WINDHOEK – Development Bank of Namibia (DBN) Chairperson Elize Angula last Thursday confirmed the appointment of Martin Inkumbi as DBN CEO. Inkumbi held the designation Acting CEO from January 1, 2013, following the departure of David Nuyoma who is now the head of the Government Institutions Pension Fund.
Speaking on the process of formalising the appointment, DBN Board Chairperson, Elize Angula, said that six candidates were interviewed for the position. Two of the applicants came from within the bank. In order to ensure that the decision was independent, a panel of six independent business and enterprise leaders was assembled to assess the applications. The panel assigned the highest scores to Martin Inkumbi and on that basis the board unanimously confirmed his appointment.
Angula said that DBN requires young, innovative, energetic minds, and that Martin Inkumbi epitomises these qualities.
Inkumbi said he was humbled by the confidence shown in him by the board. He went on to say that the bank takes its role as a development finance institution seriously, and will build on what it has learned.
Inkumbi attended the Deutsche Höhere Privatschule (DHPS) in Windhoek, after which he obtained a B.Com with majors in Economics, Management Accounting and Finance from the University of Cape Town. In 1997 he obtained a Post-Graduate Diploma in Finance and Banking from the University of KwaZulu Natal. He also holds an M.Sc in Financial Economics from the University of London, which he obtained in 2001.
He began his career as a researcher in banking statistics at the Bank of Namibia and later moved to the treasury as a financial analyst. Between 2002 and 2006 he was a corporate banking manager in FNB’s Corporate Banking Division. Inkumbi then joined DBN as a portfolio manager in August 2006, and was promoted to the position of head: lending in January 2011.
In addition to his responsibilities at DBN he also serves as a technical advisor to the MVA Investment Committee. He is married and has two children. He enjoys reading on socio-economic issues and contemporary African history.
By Staff Reporter