Staff Writer
Sectoral job creation in projects funded by the Development Bank of Namibia (DBN) fell in the 2024/25 financial year, with supported projects creating 512 permanent and 971 temporary jobs.
According to DBN’s Integrated Annual Report 2024/25, this marks a decline from the 717 permanent and 1,586 temporary jobs recorded in the previous year.
Job creation within small and medium enterprises also weakened. SMEs generated 225 permanent and 257 temporary jobs in 2024/25, down from 375 permanent and 405 temporary jobs in 2023/24.
Despite the drop, SMEs continued to contribute to employment across several sectors.
The construction sector remained the largest source of jobs. It created 179 permanent and 567 temporary positions during the year.
SMEs accounted for more than half of the permanent construction jobs, creating 97 posts, as well as 134 temporary jobs. Business services ranked second, with 86 permanent and 113 temporary jobs.
SMEs contributed 64 permanent and 83 temporary positions in this sector.
DBN said it continued to support women and youth entrepreneurs as part of its development mandate.
The bank views improved access to finance for these groups as key to strengthening the investment climate, increasing labour market participation and reducing intergenerational poverty.
During the year, DBN allocated N$51.5 million to women-owned businesses. This represented 9.2% of total private sector loan approvals worth N$562.7 million and was slightly higher than the N$51.4 million, or 9.1%, approved in 2023/24. Support for youth-owned businesses declined, with 27 loans approved in 2024/25 compared to 32 the year before.
The value of financing to youth-owned enterprises fell to N$24.3 million from N$42 million.
Commenting in the report, DBN senior executive John Mbango said SMEs remain central to the bank’s work, with 49 projects approved during the 2024/25 financial year.
He said targeted support for women-owned enterprises reached N$51.5 million, while youth-owned businesses received more than N$24 million in funding.
Looking ahead to 2025–2026, DBN said it will continue to focus on regional balance by supporting projects in underserved areas such as Karas, Kavango East and West, Kunene, Oshikoto and Zambezi.
The bank said these investments aim to support entrepreneurs, strengthen communities and promote more balanced economic growth.
