DBN Celebrates 10th Year of Existence

THE Development Bank of Namibia (DBN) this week marked its 10th anniversary during a ceremony held in Windhoek.

Speaking at the event, DBN board chairperson, Elize Angula said there is more to celebrate than the fact that the bank is marking its first decade.

“We are celebrating 10 years of the bank’s significant contribution to the development of Namibia, and 10 years of sustainable growth,” she said.

The DBN was inaugurated by the Founding President, Sam Nujoma, on 29 April 2004.

Angula said the DBN has created over 10 000 jobs over the past years and has nurtured hundreds of enterprises.

“We have assisted with the development of economic infrastructure in Namibia, and have given the ownership of enterprises to previously disaantaged Namibians, as well as spreading economic activities to the regions,” she added.

Angula said the bank’s contributions to the development of the country did not end with job-creation, but it has aocated financial inclusiveness, and also played its part in aancing the national economic transformational agenda.

In February, DBN CEO, Martin Inkumbi, announced the bank’s strategy for 2014 to 2018.

He said DBN would place particular emphasis on three sectors identified by the Fourth National Development Plan. Lending to the value of N$750 million is targeted for manufacturing, N$450 million for tourism and N$ 330 million for transport and logistics.

Source : The Namibian