The Development Bank of Namibia (DBN) this week suspended an additional three employees, bringing the total to seven suspended staff as a result of its investigation into alleged misconduct in allocating finance, which was announced at the end of April 2020. The bank suspended the previous four employees pending an investigation into an alleged breach of the bank’s operational standards. 

DBN spokesperson Di-Anna Grobler earlier this year said the bank uses an anonymous tip-off platform, where members of the public can report alleged irregularities or misconduct they observe. An anonymous tip-off initially led to the suspensions. 
The investigation is carried out by external investigators to ensure impartiality. Recommendations on the findings will be submitted to the DBN board, she said.

Speaking about the investigation, Grobler stated: “If there are alleged irregularities, the Bank will follow through with investigation of the matter and take appropriate steps to ensure the integrity of the Bank is preserved”. 
She stated that the current investigation is in its final stages and the bank will make appropriate announcements when it is concluded.
At the first suspension, Grobler noted the Bank holds its employees to high ethical standards in the execution of their work, and necessary systems and processes are in place to manage employee conduct. She emphasised that deviations from the norm are handled expeditiously to restore public trust.