More articles in this category
Top Stories

Public enterprises minister Leone Jooste wants the Namibia Students Financial Assistance Funds board, and the Chief Executive Officer dismissed. ...

Consumer activist and writer Milton Shaanika Louw has decried high consumer lending levels as unsustainable warning that this may see lower intere...

Namibia Breweries Limited (NBL) Managing Director, Wessie van der Westhuizen has said the company’s flagship home grown barley project is we...

Twenty-eight pedestrians were fatally injured on the Western Bypass road between the periods of 2014 to 2016, and this ?gure excludes fatalities i...

Power Africa plans to triple its goal of 10 000 MW and 20 million connections in few Sub-Saharan African countries to 30 000 MW and 60 million con...

Despite an improved rebound in commodity prices, Uranium remains subdued, and Economic Association of Namibia (EAN) Director Klaus Schade has said...

Other Articles from The Villager

DBN looks beyond Nuyoma

Sun, 20 January 2013 18:35
by Business Writer
Education

Following a decade of operations under the guidance of David Nuyoma, the Development Bank of Namibia (DBN) for the first time, with an acting Chief Executive Officer Martin Inkumbi has laid down a four year strategy to grow the bank’s loan book and improve its target market.
 Inkumbi yesterday revealed the bank’s 2013 to 2017 path, “which sets out our goals for areas like loan book growth and target markets. Within that broad strategy, we have key aspects we’ll focus on each year. The most important thing in 2013 is to implement our new business processes within the framework of that overall strategy. We have looked at the way we do business and effected changes that will help us provide a better service to our clients.” Inkumbi said.
DBN will now introduce a new credit and investment policy as well as new management and board charters that inform the bank’s decision-making mandates and processes.
“Manufacturing creates jobs and Namibia has a comparative advantage in the tourism and services sectors. The country’s location also lends itself to it being a transport and logistics hub.” he said.
For a bank whose asset base has grown to N$1.6b in 2011, the departure of Nuyoma to head the Government Institutions Pension Fund (GIPF), will not negatively affect operations, Inkumbi assured the nation.
“We are directed by the business strategy and plan set by the board of directors. The executive management team, including the CEO, is there to steer the bank in this direction and not to determine the direction being taken. While factors relating to the way in which business is done can be influenced by individuals’ characters, the culture established and passed on, is embedded in the organisation. It therefore remains the same. Our tradition of transparency, accountability and integrity remains,” Inkumbi said.
According to Inkumbi, sustainability remains of critical importance to the DBN.
“Another, ongoing, priority for the Development Bank in 2013 will be to continue to be a development catalyst. We need to be at the forefront when it comes to taking financial credit risk. We would like to operate in a space where other financial institutions don’t, but do this within the context of responsible lending practice. As is the custom, we will continue to pool resources with other parties to bring about the greatest possible development impact. We know that, individually, we can simply not make a difference,” Inkumbi said.