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DBN appoints new Chief Financial Officer Hanri Jacobs joins Bank team

Hanri Jacobs has been appointed as Chief Financial Officer of the Development Bank of Namibia (DBN) in a selection process conducted by the Bank's Board of Directors. She succeeds Renier van Rooyen who left DBN to join the Corporate Advisory Reform Unit of the Ministry of Public Enterprises.


Jacobs will have oversight of the financial management, treasury and IT functions of the Bank.


Previously, she has served as Chief Financial Officer and then Acting Managing Director of NamPower. Thereafter, she joined Manitoba Hydro International, a transmission company, where she was an executive director for the company's Nigerian operation.


Regarding her appointment, DBN CEO Martin Inkumbi said the return of Jacobs to Namibia, and her capability and experience, will stand the Bank in good stead. He elaborated by saying that the Bank will draw on her knowledge and experience of large-scale infrastructure finance, structuring of corporate finance, as well as high-level corporate strategy and governance.


Jacobs obtained her B.Compt. in 1990, and her B.Compt. Hons in 1991. She is a registered Chartered Accountant and passed the examination of the Chartered Institute of Management Accountants.


She has over fifteen years of financial experience in all levels of financial and management accounting and business processes, in addition to five years' SAP implementation experience.


Oct 21 2016

Development Bank of Namibia to provide enterprise and infrastructure finance in the Erongo Region

Development Bank of Namibia (DBN) Senior Communications Manager Jerome Mutumba encourages local authority representatives and entrepreneurs to visit DBN at the Erongo Business and Tourism Expo taking place from 26 to 29 October. Although the Bank has offices in Walvis Bay, he says DBN’s presence at the Expo is intended to provide a convenient point of contact for visitors from other centres in the Erongo Region who do not regularly visit Walvis Bay.


Mutumba says the Bank views Erongo as a region with major potential for contributing to the development of Namibia's economy.


Mutumba identifies four enterprise areas where the region can be further strengthened: manufacturing, transport and logistics, light and heavy industry, and tourism.


In terms of manufacturing, Mutumba says there is room for growth and diversification of existing enterprises, as well as start-ups. He says that manufacturing can benefit from the Walvis Bay Corridor and trade with neighbouring countries. He identifies the Walvis Bay Corridor and the benefits of SADC regionalisation as a stimulus for enterprise growth in the transport and logistics sector.


Mutumba points out that support for operations of light and heavy industry will be required for growth of the Erongo mining sector, as well as the Port of Walvis Bay and associated marine activity. This will lead to opportunities for growth of existing industrial operations and start-ups.


Tourism, he notes, can be further developed through the establishment of additional enterprises in the accommodation and restaurant subsector. He says that although Walvis Bay and Swakopmund have a high degree of activity in this field, there is room for additional capacity in smaller Erongo centres and conservancies.


Talking about infrastructure, Mutumba urges local authorities to consider the necessity for forward-looking plans to accommodate population growth in the region, as well as the growth of enterprises. He points to water provision as one area that is currently receiving priority consideration. In addition, the servicing of land for affordable housing, the provision of electricity and the construction of roads are requirements for the sustainability of the region in decades to come.


Mutumba says that the Bank has a sound and sustainable pool of finance that can be brought to bear in the Erongo Region. The depth of the pool is illustrated by large-scale provision of finance for Erongo RED and The Delight Hotel.


DBN has a long and successful track record in Erongo. Mutumba lists N$1.934 billion in approvals to the region, and an estimated job impact of 1,703 new jobs and 2,424 temporary jobs. The largest beneficiary sectors in Erongo have been construction with approvals of N$848.4 million, electricity and water with N$454.57 million, real estate and business services with N$194.73 million and manufacturing with N$116.33 million.


Mutumba concludes by reiterating his invitation to local authorities and enterprises to visit the Erongo Business and Tourism Expo. The Bank opens doors to enterprise and infrastructure finance, and the Expo is one such door.


Oct 20 2016

A good year for development finance DBN releases annual financial results for 2015 / 16 period

The Development Bank of Namibia (DBN) has released its annual results for the 2015 / 16 period.


The Bank amended its reporting period from the end of the calendar year to the end of March 2016 to coincide with the financial year of its shareholder, the government. The annual report for 2015 / 16 covers a 15-month period. Standard 12-month reporting will be resumed in 2017 reporting.


During the period DBN loans and advances grew to N$3.8 billion as at 31 March 2016, up from N$2.3 billion in 2014. The growth is primarily attributable to the increased scope and larger amounts approved per project.


Over the same period, net interest income grew from N$215.56 million in 2014 to N$339.78 million. Net income grew from N$147.25 million to N$208.76 million. The Bank reapplies the majority of its net income to lending in the interests of development.


For the period under review, the Bank maintained the quality of its loan and investment portfolio with bad debts of 4.1 percent, which is below the maximum budget percentage of 5.0 percent. This falls approximately 30 percent below the recommended level of bad debt of 6 percent advocated by the Association of African Development Finance Institutions (AADFI).


The Bank’s assets grew to N$4.59 billion as at 31 March 2016, up from N$2.92 billion at the end of 2014, an increase of 57.2 percent on the back of the high loan book growth.


During the period, the Bank in consultation with the shareholder, revised its lending and investment focus and ceased providing direct finance for small and medium enterprises to focus on the provision of finance for infrastructure and to enterprises with an annual turnover of above N$10 million, as well as business projects valued at more than N$10 million.


CEO Martin Inkumbi said that the shift in strategic focus was prompted primarily by the mandate of the SME Bank to provide finance to smaller enterprises. In addition, the shift is supported by a growing finance ecosystem of commercial lending activities and specialist private funds that finance SMEs. The benefit to the Bank, Inkumbi said, is that it can evolve into its new role as an impactful and effective financing agency for larger initiatives.


He added that the Bank has put in place a sound risk management system which envisages the requirements for preservation and sound management of its own pool of capital, as well as capital entrusted to it by the shareholder, private sector sources and external agencies.


In terms of organisational development, Inkumbi said the Bank is establishing an in-house treasury function to support its capital raising efforts and liquidity management. A post investment and loan monitoring function was created as part of DBN's credit risk management function to ensure appropriate utilisation of the Bank’s funds and to support ongoing risk management of enterprises and projects that the Bank has invested in.


Inkumbi concluded by noting that the Bank put in place an environmental and social management system, known as the ESMS, to mitigate harmful impacts that could emanate from the projects and business activities of enterprises it is financing. An environmental risk manager was appointed to oversee the function.

Oct 12 2016

Renewable energy finance powers Namibian energy sector Development Bank of Namibia finance for Osona photovoltaic plant

Solar power for the Otjozondjupa Region. The Development Bank of Namibia has followed up on the success of the Omburu Solar Park by providing finance for the 4.5 MW photovoltaic power plant near Okahandja.


Renewable energy finance powers Namibian energy sector

Development Bank of Namibia finance for Osona photovoltaic plant


The Development Bank of Namibia (DBN) has announced that it has provided finance for another solar power generating facility, Osona Sun Energy, located near Okahandja. The plant, nearing completion, has a capacity of 4.5 MW.

The plant, which will operate in terms of a power purchase agreement (PPA) with NamPower, was developed by InnoSun. InnoSun, founded and headed by father and son team Grégoire and Thomas Verhaege, also constructed the Omburu photovoltaic park. Osona Sun Energy is owned by a consortium of investors comprised of InnoSun and Black Diamond Investments, a local BEE group that holds a 30 percent share in the company.

DBN Head of Lending, John Mbango, said that InnoSun and Black Diamond Investments have proven to be skilled and trustworthy partners for finance. The Bank, he says, closely considers the track record of all applicants. The fact that the establishment of the Omburu photovoltaic plant proceeded smoothly has given the Bank full confidence in InnoSun’s operational capacity.

Mbango also said that he was pleased that the partners chose DBN as the vehicle for finance.

According to Mbango, the Bank welcomes additional applications from enterprises that have used DBN finance to good effect. This open door policy encourages reinvestment of profits in related or other areas by enterprises that have proven their ability to prosper and contribute to Namibia's economic growth.

Talking about solar energy in Namibia, Mbango said that on the basis of the photovoltaic projects, the Bank has developed a strong body of knowledge on the business model and technology and skills required for a solar park. He added that the Bank will welcome applications from other projects in the same field, as well as other renewables, subject to demand and feasibility of PPAs with NamPower.

Mbango said that privately owned utilities are an emerging trend in provision of services, along with public private partnerships. He concluded that DBN will consider enterprise finance applications of this nature, but that these have to be accompanied by firm commitments from SOEs and / or local authorities acquiring the services of utilities. 



Oct 12 2016

Good studying is good for development Development Bank of Namibia donates N$50,000 towards construction of Rundu school hall

The Development Bank of Namibia (DBN) recently donated N$50,000 towards construction of a school hall for Romanus Kamunoko Secondary School in Rundu. The school currently has to rent larger premises when its learners are required to sit for exams.


Talking at the handover, DBN CEO Martin Inkumbi said that he and many of his colleagues attended schools with limited facilities. However with determination to learn, they were able to rise to the challenge of learning, and improve their prospects in life.


Addressing the learners, Inkumbi said that the outcome of diligent study would lead to a higher quality of life in adulthood. He told the learners that although they should set aside some time for relaxation, they should place a high degree of emphasis on their studies.


He added that learning was a partnership between the parent, the teacher and the learner, and that all three should be actively engaged in the education of the learner. He said that parents and carers should take an active interest in the progress of learners, and endeavour to assist if learners fell behind.


Inkumbi concluded by saying that he hoped that some of the learners would join the Bank as valued, knowledgeable employees.


In addition to finance provided for private tertiary, secondary and primary educational facilities, the Bank provides support for public sector schools through its social responsibility programmes, including assistance with upgrading of hostel facilities for one school, and support to a school damaged in flooding in the north. 

Sep 09 2016

Finance to benefit Kunene Development Bank of Namibia to promote finance for infrastructure and enterprise

The Development Bank of Namibia (DBN) has announced that it is visiting the Kunene Region from 22 August to 24 August to raise awareness of its financing opportunities.


The visit will be led by DBN CEO Martin Inkumbi.


Talking about the visit, Inkumbi said that networking events will be conducted to inform potential borrowers on the Bank's products and requirements for finance.


Inkumbi said that the Bank has taken note of the Kunene Region's drive for development, and that the Bank is undertaking the visit with the aim of providing financing support to enterprises and local and regional authorities.


He went on to say that the region is in an excellent position to further develop itself. He cited a need for development of roads, as well as power infrastructure to reach the region's community. In terms of enterprise, he added that the Bank believes that there is room for growth particularly in tourism, but that the Bank is also promoting itself to new enterprises which project an annual turnover of more than N$10 million, and existing enterprises seeking to expand.


He also said that the Bank is providing finance for serviced land, and that this will be prioritised for local authorities in Kunene as well.


Since its inception, the Bank has allocated more than N$76 million in finance to the region. Of this, approximately 68 per cent was allocated to construction and approximately 20 per cent to the hotels and restaurants sector. The Bank has also provided finance to small-scale manufacturing, small-scale mining and quarrying, real estate and business services, and wholesale, retail trade and repairs.


Inkumbi added that the Bank is aware that use its finance is subject to regional demand, however visits to regions are seen as key to stimulating demand. He concluded by saying that he hopes there will be notable growth in demand from the Kunene Region as a result of the visit, and urged entrepreneurs and local authorities to find out more about the Bank's products.


Networking events will be held in Khorixas on 22 August at 11h30 in the Town Council Chambers, in Outjo on 23 August from 10h30 at Etotongwe Lodge and in Opuwo on 24 August from 14h30 in the Ministry of Gender Hall.


For more information, contact Edla Kaveterua at the Development Bank of Namibia on 061 290 8000 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

Aug 19 2016

The search for the the most innovative business and the best business for 2016 has begun.

Development Bank of Namibia Innovation Award and Good Business Award Entries are open.

The search for the the most innovative business and the best business for 2016 has begun.



The most innovative business idea will receive up to N$250,000 assistance from DBN. 

Entries in the fields of manufacturing, transport and logistics, and tourism are encouraged.


Develop a proposal based on one or more of these considerations:

DBN seeks innovative business ideas that:

  • Demonstrate a high degree of originality;
  • Give the competitive edge to business or industrial processes;
  • Complement but do not replace existing enterprises;
  • Use cutting edge technology;
  • Add value to Namibian resources;
  • Can improve provision of serviced land and housing, generation of power or provision of water
  • Address issues such as renewable energy or the environment;
  • Can form the basis of a franchise;
  • Can be implemented easily and rapidly.

Proposals will be assessed by independent and DBN experts.

DBN respects the ownership of intellectual property.

E-mail proposals to This email address is being protected from spambots. You need JavaScript enabled to view it. on or before 19 August 2016.

Aug 06 2016

DBN Chairperson Tania Hangula reaches out to regions Visits frontlines of development finance

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 that the Bank is financing. She will then proceed to Erongo to familiarise herself with projects in that region.

 Talking about her visits, Hangula said that the regions were singled out for their high potential to contribute to Namibian development in terms of their demographics. She noted that there was a requirement 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 added that the Bank also hopes to make impacts in priority development fields of water security, electricity generation and provision of serviced land. 

She said that finance provided by the Bank in Omusati and Oshana was not an indication of the potential of the regions, and encouraged 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 sea ports, long borders with neighbouring countries and multiple access points indicate the potential exists for greater levels of trade. She went on to say that 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 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 that DBN will continue to stimulate the region, in light of its contribution to the region. Her visit to Erongo, she said, is intended to cement relationships between the Bank and key enterprises and regional and local authorities, and identify new areas where DBN finance can have a beneficial impact.

On the topic of regional demand for finance, Hangula said that demand was greatest in Khomas and Erongo. She said that high demand in Erongo and Khomas is expected to persist, but that 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, Hon. Calle Schlettwein, with effect from 1 January 2016. She the Executive Director of Arandis Mining and Managing Member of Umoja Trading, which has interests in the petroleum industry and other Namibian business sectors. 

Jul 25 2016

More than a drop in the bucket Development Bank of Namibia CEO Martin Inkumbi on the availability for finance to improve water security

In the current circumstance of the pressing need for water security, the Development Bank of Namibia (DBN) is stepping up to the plate to assist with finance for feasible projects that work towards water security, says CEO Martin Inkumbi.


The Bank, Inkumbi says, has the necessary experience to provide finance geared to water provision. In this regard, he cites projects financed by DBN, such as Aqua Utilities which semi-purifies water for industrial purposes in Walvis Bay, as well as finance for water reticulation for various local authorities and private developers as part and parcel of finance for serviced land. 

Given feasibility and financial viability, the Bank will prioritise finance for water infrastructure. He goes on to say that the Bank is aware that finance will be a barrier to planning, so an indication of availability of finance can be a means to speed up the planning and early implementation of water infrastructure and water delivery services.

Talking about project timelines, Inkumbi notes that although the Bank will seek to contribute finance for short-term alleviation of needs, the Bank is also aware that drought is a recurring phenomenon, and will look favourably on medium to long-term solutions, that ensure long-term water supply.

Local authorities critical

Concerning the scope of finance, Inkumbi says that the immediate focus of the Bank will be local authorities, as these are the key providers of water to households and enterprises. He says that the Bank believes that rehabilitation of aging water infrastructure, as well as provision of new infrastructure to distribute water in a more efficient manner, are areas with a high potential to generate water savings.

He goes on to say that the Bank will also consider finance for better administration of water. By improving payment and administration systems for water, more funds can be released through local authorities to further develop the supply of water on a national level.

In terms of practical implementation, Inkumbi says the Bank has a strong body of experience in assessing public-private partnerships (PPPs), and the Bank's assessment of an application for finance will be a strong indicator of the feasibility of the project.


Finance for enterprise initiatives

On the topic of enterprise water-consumption and efficiency, Inkumbi states that this is a concern to the Bank. He points out that a loss of capacity due to water cuts, either in the form of a shutdown of production or a slowdown, immediately affects the viability of the enterprise, creates a drag on growth and will impact economic development and employment.

He says that enterprises with plans to implement new water efficient technology or rehabilitate existing technology should contact the Bank concerning finance. In light of the cost of loss of productivity, he says enterprises should view this form of plan as a means to sustain themselves, not just immediately, but also in future.


Feasibility crucial 

Although there is an immediate need for water efficiency, Inkumbi stresses that feasibility and financial viability of water delivery are crucial. We should not risk immediate solutions that are not sustainable in the long-term, or that remove water from the local authority system, as is the case with grey water, which has to be reclaimed for purification, he points out. 

He says the Bank will filter applications through its environmental and social management system (ESMS) to ensure that potentially harmful impacts are mitigated, and that the regulations of local authorities concerning water are adhered to.

He also encourages engineers and project managers to approach the Bank to familiarise themselves with the Bank's ESMS.


Finance for bulk water 

On the topic of finance for national projects, Inkumbi says due to the size of the requirement, this will be a challenge for the pool of Namibian financial resources. He notes that current projections will place strain on any single source of finance, so syndicate finance will be required.

In conclusion, Inkumbi reiterates that the Bank will open the financing tap for feasible projects. He says that in the past, the Bank has responded rapidly and effectively to emerging issues, and that the Bank will do so to improve water security as well.



Jul 25 2016

The route ahead for Zambezi Waterfront Development Bank of Namibia's Jerome Mutumba appointed Acting CEO

The Development Bank of Namibia (DBN) is pleased to announce the appointment of Ms. Tania Hangula as member and Chairperson of its Board of Directors, effective 1 January 2016.

Jun 15 2016

Tania Hangula to chair DBN Board

The Development Bank of Namibia (DBN) is pleased to announce the appointment of Ms. Tania Hangula as member and Chairperson of its Board of Directors, effective 1 January 2016.

Feb 01 2016

DBN ceases lending to SMEs

DBN will not consider loan applications from enterprises or business projects with a turnover of less than N$ 10 million per annum.

Dec 09 2015

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