Namibia: DBN’s Hangula Inspects Projects in the Regions

Development Bank of Namibia (DBN) chairperson, Tania Hangula has visited the northern regions of Omusati and Oshana to assess the bank's impact and familiarise herself with projects the bank is financing. She will then proceed to Erongo to familiarise herself with projects in that region.

Talking about her visits, Hangula said the regions were singled out for their high potential to contribute to national development in terms of their demographics. She noted that there was a need in both regions for infrastructural development, as well as construction.

She added that the bank is also seeking opportunities to provide finance, particularly in three key sectors identified by the Fourth National Development Plan: manufacturing, transport and logistics, and tourism.

Hangula said the bank hopes to make impacts in priority development fields, such as water security, electricity generation and the provision of serviced land.

She said finance provided by the bank in Omusati and Oshana was not an indication of the potential of the regions, and encouraged local enterprises, state-owned enterprises, local and regional councils to approach the bank.

Hangula added that the bank's finance is favourably geared to enabling projects with a beneficial development impact.

On the topic of Erongo, Hangula said that the region is in many ways a model for other regions across Namibia. She said that although the region possesses seaports, long borders with neighbouring countries and multiple access points indicate the potential exists for greater levels of trade.

She went on to say primary sector mineral wealth in many regions could stimulate secondary and tertiary activity, as it had in Erongo.

Hangula also encouraged entrepreneurs to consider opportunities for intra-regional trade with other Namibian regions. There is ample opportunity for stimulation of economic activity within the borders of Namibia.

In this regard she pointed to the impact of economic activity in Erongo on regions, such as Khomas and Kunene. The bank would further like to see the same model emerge between regions such as Omusati and Oshana.

She described Erongo as a powerhouse in the Namibian economy, and said DBN will continue to boost the region, in light of its contribution to the country.

Her visit to Erongo, she said, is intended to cement relationships between the bank and key enterprises and regional and local authorities, and to identify new areas where DBN finance can have a beneficial impact.

On the topic of regional demand for finance, Hangula said demand was greatest in Khomas and Erongo. She said high demand in Erongo and Khomas is expected to persist, but the bank is currently seeking opportunities to stimulate all regions with finance offerings.

The bank, however, depends on demand for finance, so in order to foster inclusive regional participation, Hangula concluded by urging entrepreneurs and infrastructure project initiators to approach the bank with applications for finance.

Hangula was appointed as chairperson of the bank's Board by Minister of Finance Calle Schlettwein, with effect from January 1.

She is the executive director of Arandis Mining and managing member of Umoja Trading, which has interests in the petroleum industry and other Namibian business sectors.

Source: New Era