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Press Release: 29 November 2023

The Bank announces the appointment of Nicky Katapa Mutenda as the new Chief Financial Officer (CFO) with effect from December 18, 2023, for a period of 5 years. Nicky’ appointment follows a meticulous selection process conducted by a panel of six distinguished individuals drawn from the DBN Board and by external experts.

Commenting on Nicky’ appointment, John Steytler, DBN CEO, expressed unwavering confidence in Nicky as a capable candidate with the ability to contribute to the success and growth of the Bank.

Nicky is a seasoned finance professional with over eleven years of banking sector experience. He holds professional designations such as Chartered Accountant (South Africa) CA (SA), Chartered Accountant (Namibia) CA (NAM), Chartered Certified Accountant (FCCA), and ACI Financial Markets Association Certified Market Professional (ACICMP).

Additionally, Nicky obtained a Postgraduate Diploma in Accountancy from Rhodes University and a Bachelor's Degree in Commerce from the University of Namibia. His educational accomplishments also include the ACI Diploma (Merit) and the ACI Dealing Certificate (Distinction).

Nicky has been an integral part of the Development Bank of Namibia (DBN) since May 2017 when he took on a position as the bank's first Manager: Treasury. During his tenure, he successfully established a fully-fledged treasury function at DBN. His dedication and expertise led to his promotion to the position of Treasurer / Senior Manager: Treasury in August 2021 and, after just two years, he has now ascended to the position of Chief Financial Officer and Chief Treasurer. Prior to joining DBN, Nicky held the position of Treasury Finance Manager at First National Bank of Namibia Limited. Between 2013 and 2015, he successfully undertook his Chartered Accountancy Training Outside Public Practice (TOPP) articles at Absa Bank Limited in Johannesburg. While employed at Absa, Nicky gained experience in diverse areas, including Exchange Traded Funds (ETFs), CIB Loan Portfolio Product Control, and Group Internal Audit.

Beyond his role at DBN, Nicky actively contributes to the Namibian corporate landscape. He serves as an Independent Non-Executive Director of PowerCom and UNAM Foundation. Furthermore, he serves as an External Committee Member on the Board Investment Committee of the Motor Vehicle Accident (MVA) Fund and the Finance & Audit Committee of the Namibia Institute of Corporate Governance (NICG) respectively.

The Board and the Bank wish Nicky the very best in his new role.