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DBN celebrates 10-year anniversary

Wed, 30 April 2014 20:39
by Villager Reporter


The Development Bank of Namibia (DBN) celebrated its 10th anniversary in the capital on Tuesday.
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 noted.
The DBN was inaugurated by the Founding President of Namibia, Dr Sam Nujoma, on 29 April 2004.
Angula indicated that they are also celebrating the fact that the past 10 years places them in a position where they can be confident about the contributions the bank had made towards the growth of the country's economy and development.
She boasted that the DBN has created over 10 000 jobs over the past years, has nurtured hundreds of enterprises along with the Ministry of Finance, and also contributed to innovation in Namibia.
“We have assisted with the development of economic infrastructure in Namibia, and have given the ownership of enterprises to previously disadvantaged Namibians, as well as spreading economic activities to the regions,” she added.
Furthermore, the bank’s contributions to the development of the country did not end with job-creation, but it has advocated for financial inclusiveness, and also played its part in advancing the national economic transformational agenda.
Also speaking at the celebration, the DBN's chief executive officer Martin Inkumbi said his team had been hard at work to ensure the full establishment of the institution.
The DBN fosters, empowers and finances bold new ventures. It generates success, innovation, growth and prosperity. 

A leaflet shows that the bank also provides financing for private sector start-ups and expansions, equity deals, bridging finance, enterprise development finance, trade finance, small and medium enterprises, public-private partnerships, public sector infrastructure, local authorities and bulk financing to responsible micro-finance providers.