The Development Bank of Namibia (DBN) officially launched its 2023/24 Integrated Annual Report, showcasing a year of significant impact and strategic achievements in financing projects that contribute to Namibia’s socio-economic development.
The event, held on 31 October 2024, presented the Bank’s financial results and outlined its roadmap to 2029, emphasising DBN’s commitment to transformative development finance and sustainable growth across key sectors.
Sara Kapiye, Chief Human Capital Officer, presented an overview of the report to the media and invited guests. She stated that the report reflects DBN’s core values of Accountability, Integrity, Service Excellence, and Transformative impact.
“This is in alignment with the Bank’s strategic pillars of Financial Sustainability, People & Culture, Market Positioning, and Development Effectiveness,” Kapiye said.
The key highlights from the 2023/24 report include job creation. DBN facilitated the generation of 3,525 jobs through various projects, with a substantial focus on supporting small and medium enterprises (SMEs) and fostering employment across Namibia.
Another key highlight is infrastructure and green financing. A total of N$319.1 million was allocated to infrastructure financing, with 78% directed towards solar energy projects, reinforcing DBN’s commitment to sustainable and green financing solutions.
DBN also demonstrated its dedication to inclusivity by investing N$42 million in youth-owned businesses and N$51.4 million in women-owned enterprises, supporting a more equitable entrepreneurial landscape in Namibia.
Another highlight was the support for SMEs. Seventy-four SME projects received funding, totalling N$95.9 million. Additionally, DBN’s National Mentoring and Coaching Programme provided guidance to over 260 mentees, strengthening business acumen and resilience.
DBN invested N$487,839.42 in corporate social initiatives, including the completion of a maternity ward in Rupara, Kavango West, and donated N$30,000 to Oshuungu Combined School for classroom furniture. These contributions underline its commitment to social welfare and development in underserved areas.
The Bank’s financial performance overview was presented by Nicky Mutenda, Chief Financial Officer.
In the photo: John Steytler (DBN Chief Executive), Tonata Nghifitikeko (DBN Chief Technology & Information Officer), Sara Kapiye (DBN Chief Human Capital Officer), Nicky Mutenda (DBN CFO).
