Finance minister Ericah Shafudah commended the Development Bank of Namibia (DBN) for its commitment to the country’s economic growth during her speech at the Good Business and Innovation awards on Monday.
She lauded the DBN’s role in driving development as a key financial institution, noting the bank has invested over N$21 billion into the domestic economy, resulting in the creation of more than 76 000 jobs.
The awards were hosted in the capital under the theme ‘Celebrating Innovation and Impact’, and honoured trailblazing enterprises and forward-thinking leaders who are reshaping Namibia’s socio-economic landscape.
Shafudah said the DBN will continue to live up to its mandate as a development finance institution, together with its partners.
“A major focus has been placed on supporting small and medium-sized enterprises (SMEs), as well as youth and women-led businesses, ventures which highlight the bank’s commitment to fostering an inclusive and diverse economic environment,” she said.
She noted that the winners of the awards exemplify the impact of these efforts; and their success stories are meant to inspire other businesses to follow their example by building and transforming the economy for the future.
The DBN recognised outstanding achievements in the business community. This year’s awards celebrated three winners across three different categories. In the SME category, Blue Crane Safaris Namibia cc was honoured for its service and commitment to sustainable tourism; Olc Arandis Solar Energy Corporation (Pty) Ltd was named the winner in the Large Enterprise category; and the 2024 Innovation Award was scooped by LIZWISE Investment for its innovative product, Mahangu Pasta.
The winner walked away with N$150 000 for SMEs, large enterprises received N$250 000, and the innovation category scooped N$400 000.
During the awards ceremony, DBN chief executive officer John Mbango said the Good Business Awards have recognised enterprises which embody sustainable development, creating jobs, embracing innovation, practising good governance and uplifting communities. Over the years, these awards have thus become a platform for learning, inspiration and showcasing the best of development finance.
“As guided by our 2024-2029 integrated strategic plan, the DBN has affirmed its commitment to driving sustainable growth. The DBN is expanding its suite of financial services to serve the under-represented sectors and communities, particularly those which have historically faced barriers to accessing capital.
Central to this strategy is drawing emphasis on green finance to advance national and global sustainable agendas, and also to contribute to the strengthening of our economy,” he stated.