Board of Directors

The Board’s primary mandate is to ensure the sustainability and successful continuation of the Bank’s business activities by providing strategic direction to the executive management. Independent non-executive directors are appointed by the share-holder in terms of section 10 of the Development Bank of Namibia Act, 2002 for a period not exceeding five years, and can be reappointed. Current Board members were appointed on a three year term starting 1 April 2018.

The Bank’s Memorandum of Incorporation provides that there should be a majority of independent non-executive directors, including the Chairperson, and one executive director, the Chief Executive Officer.  As at 31 March 2019, the Board comprised of six directors, of whom the majority was non-executive.

The independent non-executive directors have diverse skills, experience and backgrounds, and all the directors have a comprehensive understanding of the industry as
well as the business of the Bank.

Board responsibility

The Board holds ultimate responsibility for the Bank’s business strategy and financial soundness, key personnel decisions, internal organisation and governance structure and practices, risk management and compliance obligations.

Board members

Sarel van Zyl (Chairperson)
Qualifications: MBA (Potchefstroom University), BBA (Potchefstroom University)
Experience: Chief Executive Officer (FirstRand Namibia), Chief Executive Officer (First National Bank of Namibia), Chief Executive Officer (FNB Zambia), Head of Retail Banking (FNB Namibia Holdings), Head of Distribution (First National Bank of Namibia), Manager Operations (First National Bank of Namibia)

Evangelina Nailenge (Deputy Chairperson)
Qualifications: M.Com (Money and Banking) (University of the Free State), B.Com (Money and Banking) (University of the Free State), B. Econ (UNAM), Senior Managers Leadership Development Programme (UCT), Being a Director Series Part 1 – 4 (Institute of Directors Southern Africa), SAVCA-GIBS Foundation Programme in Private Equity (University of Pretoria & Southern African Venture Capital and Private Equity Association, Collective Investment Schemes (CIS) (UCT & ASISA Academy), Senior Management Development Programme (University of Stellenbosch), Management Development Programme (University of Stellenbosch)
Experience: Managing Director (Momentum Investment) Chief Executive Officer: HangalaPrescient Investment Management & HangalaPrescient Infrastructure Manager), General Manager: Investment Institutions / Capital Markets(NAMIFSA), Deputy Director for Policy Research and Forecasting (Bank of Namibia), Part-time Lecturer (Institute of Bankers Namibia (IoB)), Personal Assistant to the Governor (Bank of Namibia) Head of Money and Capital Market Section/Senior Economist (Bank of Namibia), Research Officer (Bank of Namibia), Part-time Lecturer: Principles of Economics (Polytechnic of Namibia)

Diana Husselmann
Qualifications: Bachelor in Human Resources Management (NUST), Certificate in Dispute Resolution (UNAM), Certificate in Industrial Psychology and Organisational Behaviour (UNISA), Diploma in Human Resources Management (NUST)
Experience: Manager: Remuneration (Swakopmund Uranium), Superintendent: Remuneration (Swakopmund Uranium), Specialist: Remuneration and Benefits (Rio Tinto) (Rossing Uranium Limited), Head: Remuneration and Administration (Nampower), HR Business Partner (Namdeb Diamond Corporation)

Marsorry Ickua
Qualifications: MSc: Information Systems Management (University of Liverpool), International Executive Development Program (WITS Business School, London Business School), Management Development Program (University of Stellenbosch), Program Project Management (University of Stellenbosch), Diploma: PC Support (Boston City Campus), Diploma: Business Computing (Varsity College)
Experience: Director: Information Technology (Bank of Namibia), Deputy Director: Technical & Network Services (Bank of Namibia)

Patience Kanalelo
Qualifications: Admission as Legal Practitioner of the High Court of Namibia (Justice Training Centre), LLB (Hons) (Rhodes University)
Experience: Head: Legal, Regulatory Affairs and Risk Management (Mobile Telecommunications Limited), Head: Legal and Company Secretary (Mobile Telecommunications Limited), Head: Corporate Governance; Legal Services and Regulatory (Telecom Namibia), Senior Legal Practioner (Shikongo Law Chambers), Corporate Legal Advisor / Company Secretary (Old Mutual Namibia), Legal Practioner (Hitula & Associates), Legal Practioner (Conradie & Damaseb), Candidate Legal Practitioner (Conradie & Damaseb)

Willy Mertens
Qualifications: Senior Executive Programme (London Business School), Graduate Diploma in Engineering (GDE) (Mining) (WITS University), Postgraduate Certificate in Advanced Taxation (UNISA), Chartered Accountant (CA) (South African Institute of Chartered Accountants (SAICA)), Certified Internal Auditor (Institute of Internal Auditors (IIA)), Post Graduate Diploma in Auditing (UNISA), Foundation Course in Environmental Auditing (Crystal Clear), Post Graduate Diploma in Accounting (UNISA), Hons. BCompt (UNISA) B.Com (UNAM)
Experience: Chief Financial Officer (Debmarine Namibia, Namdeb Holdings and De Beers Namibia), Financial Manager (Debmarine Namibia, Namdeb Holdings and De Beers Namibia), Senior Financial Accountant (Debmarine Namibia), Part-time Lecturer: Auditing (UNAM), Audit Services Manager (Namdeb Diamond Corporation), Senior Internal Auditor(Namdeb Diamond Corporation), Acting Audit Services Manager(Namdeb Diamond Corporation), Internal Auditor (Namdeb Diamond Corporation), Graduate Trainee Internal Auditor (Namdeb Diamond Corporation)

CEO

John Steytler

Qualifications: International Executive Development Programme (University of Witwatersrand, SA), PhD Economics (University of Kwazulu-Natal, South Africa), Master's in Financial Economics (University of London, UK), Master in Cooperative Economics (Phillip University, Germany), Bachelor of Arts, History, Psychologygy and Sociology (University of Namibia, NA).

Experience: Program Manager SDG Initiative (GIZ Namibia), Presidential Economic Advisor (State House), Statistician General (Namibia Statistics Agency), Group Economist (Capricorn Investment Holdings/Bank Windhoek), Director of Research and Chief Economist (Bank of Namibia), Senior Advisor to Executive Director (IMF, Washington DC [advising on the economies of 22 English speaking African economies and focusing on the Word Economic Outlook and debt relief and debt sustainability for African countries]), Various positions (Bank of Namibia, last one being Deputy Director in charge of Statistics and Publications), Chief Economist, Trade Policy Analysis ( Ministry of Trade, and Industry).

Board Committees

The Board has delegated some of its functions, though not its responsibilities, to Board Committees to increase efficiency and allow deeper focus in specific areas. The Committees are created and mandated by the full Board. The Committees are:

• the Board Credit and Investment Committee,
• the Board Audit, Risk and Compliance Committee, and
• the Board Human Capital and Remuneration Committee.

Board independence

The Bank acknowledges that independence is more often than not a matter of perception rather than fact, and in evaluating independence will consider inter alia, whether a Director:

• is a significant or ongoing service provider or professional advisor, or was an officer, employee or a representative of such provider of financial capital or funding.
• has been employed by the Bank at an executive level within the past 3 financial years, or is a related party to such executive.
• has been the external auditor responsible for performing the statutory audit within the previous 3 financial years,
• is a significant customer of, or supplier to, the DBN, and / or
• is eligible for remuneration dependent on the performance of the DBN.

The Chairperson

The role of the Chairperson is separate from that of the CEO. The Chairperson provides overall leadership to the Board and ensures that Directors perform effectively.

The CEO

The CEO is responsible for formulating and recommending long -term business strategies and policies to the Board for approval. In discharging his duties, the CEO is assisted by the Executive Committee.

Conflicts of interest

In terms of Part 6, sections 242 to 248 of the Company’s Act 28 of 2004 as amended, all Directors are required to disclose interests in contracts. The Company Secretary maintains a register of interests in contracts as per section 248 of the Companies Act.

Directors are required to declare all interests at the meetings they attend and these are recorded in writing, as required by legislation.

Directors who have a conflict of interest on any matter to be discussed at meetings are required to inform the Company Secretary prior to meetings and are recused when matters that may be subject to conflicts of interest are discussed.