DBN CEO Appointed to the SADC DFRC Board of Trustees

The Development Bank of Namibia (DBN) proudly announces the appointment of its Chief Executive Officer, Dr. John Steytler, to the Board of Trustees of the Southern African Development Community’s Development Finance Resource Centre (SADC-DFRC). The appointment was confirmed at the SADC DFI Network meeting held on 29 November 2024 in Mbombela, South Africa. 

The SADC-DFRC is a subsidiary institution of SADC established under the SADC Protocol on Finance and Investment (FIP) and is collectively ‘owned’ by the SADC Development Finance Institutions (DFI) Network, with a current membership of forty-one (41) national DFIs. The DFRC is mandated to promote effective mobilisation of resources by the financial sector, in particular the DFIs, for investment in key areas with the potential to stimulate sustainable and inclusive growth, generate employment and alleviate poverty, in line with the objectives of SADC under the Revised Regional Indicative Strategic Development Plan (RISDP) 2020 - 2030. 

Dr. Steytler’s appointment to the SADC-DFRC Board is a testament to his leadership, expertise, and the DBN’s commitment to strengthening regional cooperation and economic development. His tenure, which runs from 1 January 2025 to 31 December 2026, underscores Namibia’s integral role in advancing the development finance agenda within the SADC region. 

Commenting on the appointments, Dr John Steytler, DBN CEO, said, "Namibia has an important role to play in advancing development finance within the region. This appointment is an opportunity to contribute to our shared sustainable goals while further strengthening our presence in shaping the future of development finance across Southern Africa." 

The newly appointed SADC-DFRC Board is comprised of other prominent leaders from various Development Finance Institutions (DFIs) across the region, including Mduduzi Dlamini, CEO of Eswatini Housing Board and Chairman of the SADC-DFRC Board; Cross Kgosidiile, Managing Director of the Botswana Development Corporation; Frank Nyabundenge, Managing Director of the Tanzania Agricultural Development Bank; Obert Ngwenya, CEO of the Small & Medium Enterprises Development Corporation, Zimbabwe; Boitumelo Masako, CEO of the Development Bank of Southern Africa; Joao Salvador Quintas, CEO of Banco Desenvolvimento de Angola and 

Chairman of the SADC DFI Network; and Sadwick Mtonakutha, Director of the SADC Finance, Investment and Customs Directorate, who serves as an Ex Officio member. 

The DBN Board, management, and staff congratulate Dr. Steytler on this prestigious appointment. We are confident that his strategic vision and deep understanding of development finance will contribute significantly to the goals of the SADC-DFRC and the broader regional development agenda. 

Dr. John Steytler: DBN CEO

The following articles and statements are provided for public information and copyright vests in the Development Bank of Namibia. For permission to use these items verbatim, or as excerpts, or for photographic permissions, please contact the Corporate Communications and Stakeholder Relationships Specialist on 061 290 8000.

CEO, Martin Inkumbi has announced that KfW-backed Business Recovery Loans offered by DBN will be interest free for the first 12 months of the loan. The very short-term loans have a fixed interest rate of 5,925%.

Business Recovery Loans have been further subsidized in response to calls for access to affordable credit and will now include a 12-month interest-free period following disbursement of loans.

These loans are supported by KfW, the German Development Bank, and are distinct from the Bank of Namibia SME Economic Recovery Loan Scheme. DBN is expected to make a statement on its participation in the Bank of Namibia SME Economic Recovery Loan Scheme in the near future.

The Business Recovery Loans currently have a term of up to 32-months and a fixed interest rate of 5.925%. Effectively, this means that Recovery Loan borrowers will only pay interest for 20 months. The 12-month portion of interest will NOT be recapitalized for payment in the final 20-month period of the loan.

Find out more about the KfW-backed Business Recovery loans, here...

The interest subsidy does not subsidize the capital amount of loans, so borrowers will be required to pay the capital amount over 32 months, unless a grace period is granted by DBN, depending on merit of the project financed.

The Bank launched its Business Recovery Loans Facility in 2022 to assist eligible non-agricultural businesses to overcome financial challenges caused by adverse macro-economic conditions over the past years. It succeeds the Covid-19 facility that was launched in 2021.

The recovery facility is enabled by German Development Cooperation and its financial cooperation entity KfW. The facility is part of a series of measures initiated by the Ministry of Finance to help businesses overcome the financial challenges caused by the prevailing adverse macro-economic conditions.

Martin Inkumbi, DBN CEO, says on launch of the Business Recovery Loans in mid-2022, the loans were intended for acquisition of plant and equipment, as well as working capital and / or other short-term finances to strengthen enterprises. He also points to diversification and expansion so that businesses can become more resilient to future economic shocks. Finally, he says that the business and consumer environments have evolved and adapted during Covid-19, and the Business Recovery Loans can be used to develop and launch sustainable, innovative new products and services.

Inkumbi says that the shorter duration of the loan places the onus on existing enterprises to select uses that can be quickly implemented with a rapid, positive impact on business outcomes and revenues.

Inkumbi stresses that the loan will not apply to start-ups. This is a loan specifically geared to boost existing enterprises that have been affected by the difficult economic environment. Start-ups, he concludes, should apply for normal SME finance or larger amounts of finance from DBN’s Investment Department.

03/12/2024 

Development Bank of Namibia Announces Appointment of Board of Directors 

Windhoek – The Development Bank of Namibia (DBN) is pleased to announce the appointment of its new Board of Directors, effective 1 January 2025. Appointed by the Minister of Finance and Public Enterprises, Honourable Ipumbu Shiimi, in line with the Public Enterprise Governance Act No. 1 of 2019 (PEGA), the appointments underscore confidence in the Board’s leadership and its dedication to advancing DBN’s vision of driving sustainable economic development. 

Leading the new Board is Evangelina Nailenge as Chairperson, supported by Willy Mertens as Deputy Chairperson. Patience Kanalelo and Marsorry Ickua will serve as Board members, alongside Dr John Steytler, who also serves as an Ex Officio member in his capacity as DBN CEO. The Board’s term will run until 31 December 2027. 

Reflecting on her appointment, Nailenge expressed her gratitude for the opportunity to lead the Board during this critical period: "I am deeply honoured by the confidence bestowed in me to chair the Board of the Development Bank of Namibia for the next three years. Together with my fellow Board members, we will ensure that DBN’s Five-Year Strategic Plan translates into impactful results that benefit the Namibian economy and its people,” she said. 

The Board is vested with comprehensive fiduciary powers to govern a development institution of DBN’s stature. The appointed members bring a wealth of expertise from diverse industries, and their collective leadership will steer DBN's strategic direction in fulfilling its mandate. 

Commenting on the appointments, Dr John Steytler, DBN CEO, said, “With the Board’s continued stewardship, I am confident that DBN will expand its reach and deepen its impact, driving transformational change in Namibia’s economic landscape. Their appointment ensures continuity in our efforts to support economic growth and create opportunities for all Namibians." 

Notably, the four members of the Board, Nailenge, Mertens, Kanalelo, and Ickua have been retained from the previous term. Their reappointment underscores the confidence in their collective expertise, leadership, and commitment to advancing Namibia’s economic development agenda. 

The following articles and statements are provided for public information and copyright vests in the Development Bank of Namibia. For permission to use these items verbatim, or as excerpts, or for photographic permissions, please contact the Corporate Communications and Stakeholder Relationships Specialist on 061 290 8000.

DBN has pledged a donation of N$1 million for construction of a maternity ward at Rupara Health Centre. Pictured: Jerome Mutumba, DBN Head of Marketing and Corporate Communication (centre) and stakeholders in the Rupara Health Centre.

Development Bank of Namibia (DBN) Head of Marketing and Corporate Communication, Jerome Mutumba, has announced a donation of N$1 million to strengthen maternity facilities with construction of a maternity ward at Rupara Health Centre in Kavango West Region.

The region currently does not have a maternity ward. One room is allocated to expectant mothers, and when that room is filled, mothers give birth in the general ward, or are referred to Kavango East. There is an average of 22 births at Rupara Health Centre, monthly.

Speaking about the donation, Mutumba described it as an opportunity to materially give to the future through better health for mothers and their infants, He explained that the combination of pre-natal and post-natal care would have the effect of reducing infant mortality.

He also mentioned that the facility would have an impact on the mental wellbeing of mothers. Firstly, he said, the additional facilities would reduce the stress of giving birth in the general ward. Secondly, he said, there would be a reduction in referrals to Kavango East, so mothers would be able to have the support of their families.

Mutumba went on to challenge the private sector and parastatals to participate in projects with a high degree of development impact. The well of need is deep, he said, but by joining hands in the spirit of Harambee, all can make a material difference.

During the same set of regional visits, Mutumba gave a motivational speech to the learners of Oshikunde Combined School in the Omaheke Region, and pledged an award of N$20,000 to the best performing learner in Grade 12.