Development Bank of Namibia (DBN)

24 Jul

DBN sues Enercon over N$28.8m in unpaid loans

info_e12wt4csMainDevelopment Bank of Namibia (DBN)

Justicia Shipena The Development Bank of Namibia (DBN) is suing Enercon Namibia (Pty) Ltd and its associates for N$28.8 million over unpaid loans and breached suretyship agreements. The case involves allegations of breached suretyship agreements and missed repayments dating back more than a decade. DBN alleges that Enercon defaulted on two loans disbursed in 2011 and 2015, which were meant to finance petroleum product acquisitions and property development. The total loan amount exceeded N$25 million. Despite restructuring efforts and extended repayment terms, the bank says Enercon failed to keep up with payments. As of May 2025, DBN records show unpaid…

09 May

Afrail appoints Steytler to its global advisory board

info_e12wt4csObserver MoneyDevelopment Bank of Namibia (DBN), Dr John Steytler

STAFF WRITER Afrail Inc, a premier infrastructure and smart mobility company pioneering eco-friendly transit systems across Africa, the Middle East, and the United States, has appointed Dr John Steytler to its global advisory board. Steytler, former CEO of the Development Bank of Namibia (DBN), and Namibia’s first Statistician General, is one of Namibia’s leading and most accomplished economists. He brings decades of expertise in economic policy, statistical systems, and development finance, having also served at the Bank of Namibia and the International Monetary Fund (IMF). He also previously served as economic advisor to the Presidency of the Republic of Namibia,…

01 Sep

DBN signs concessional loan agreement to mitigate climate challenge

info_e12wt4csNational NewsDBN signs concessional loan agreement to mitigate climate challenge, Development Bank of Namibia (DBN)

Stefanus Nashama The Development Bank of Namibia (DBN) on Wednesday signed a N$600 million concessional loan agreement with the KfW, the German Development Cooperation, to develop infrastructure to mitigate challenges presented by climate change. During the signing ceremony this week, both institutions announced that the loan will be used to develop climate-related infrastructure, such as renewable energy, water and low-carbon transport projects. The agreement follows the first credit line amounting to approximately N$240 million, which was signed between DBN and KfW in December 2018. DBN Chief Executive Officer, Martin Inkumbi said the first credit line after being successfully placed in…

30 Oct

Development Bank to resume Good Business Awards

info_e12wt4csObserver MoneyDevelopment Bank of Namibia (DBN), Development Bank to resume Good Business Awards, Dr. Nangolo Mbumba, Large Enterprise and SME

Development Bank of Namibia (DBN) Head of Marketing and Corporate Communication, Jerome Mutumba, has announced the resumption of the Good Business Awards on 3 November 2022, with finalists and winners to be announced on the Bank’s Facebook and LinkedIn pages as well as on its website during the afternoon of 4 November. Results will also be made available to the press. The Awards, last held in 2019, were suspended for two years due to Covid-19. Mutumba said this year’s winners will come from the tourism and hospitality sector, private education, land servicing, manufacturing and the transport and logistics sector. Talking…

PM to act on govt agencies not<br>supporting youth entrepreneurs

10 Jun

PM to act on govt agencies not
supporting youth entrepreneurs

info_e12wt4csNational NewsDevelopment Bank of Namibia (DBN), PM to act on govt agencies not supporting youth entrepreneurs, Saraa Kuugongelwa Amadhila

Obrein Simasiku/Martin Endjala Prime Minister Saraa Kuugongelwa Amadhila has encouraged young entrepreneurs who feel side-lined by government agencies and ministries to report to her office. She said if their products or services are not considered for procurement while they are of good quality standards, they should not hesitate to call on her office, Prime Minister, Saara Kuukongelwa-Amadhila said. ‘’There are products that government uses regularly and on a daily basis, but such are sourced outside, however if you meet the standards as an entrepreneur locally, there is no need of these ministries to procure such from abroad. If you meet…

01 Dec

DBN plans N$500m relief facility

info_e12wt4csUncategorisedDBN CEO Martin Inkumbi, Development Bank of Namibia (DBN)

Staff Writer The Development Bank of Namibia (DBN) is planning a N$500 million Covid-19 relief facility in the first quarter of 2021. According to DBN CEO Martin Inkumbi, this is in addition to the N$500 million made available by the Ministry of Finance to be offered by commercial banks. “The Bank, is committed to financing Namibian economic activity, and will take all feasible measures to ensure its health,” Inkumbi said. This comes as preliminary figures of the bank for the first two quarters to September of 2020/21 show the expected adverse impact of Covid-19 and risk-aversion on demand for SME…

16 Oct

FNB, DBN partner on Credit Guarantee Scheme

info_e12wt4csUncategorisedDevelopment Bank of Namibia (DBN), FNB Namibia

Staff Writer FNB Namibia has partnered with the Development Bank of Namibia (DBN) on the risk sharing initiative, which was announced by the Minister of Finance, Hon. Iipumbu Shiimi on the 19 August 2020. “Our government and FNB as one of the leading banks in the country, value this sector because of its great potential for the socio-economic development in terms of economic growth, employment creation and poverty alleviation,” Sam Ikela, Segment Head, Small Medium Enterprises at FNB said. “The intention of the guarantee scheme is to alleviate the collateral constraints entrepreneurs are facing and it will cover loans up…

13 Jul

DBN suspends three more over loans scandal

info_e12wt4csObserver MoneyDBN, Development Bank of Namibia (DBN)

Staff Writer The Development Bank of Namibia (DBN) has announced that three more employees have been suspended, bringing the total to seven employees that have been fingered for their involvement in a loans scandal that has rocked the bank. This comes as the DBN Spokesperson Di-Anna Grobler revealed that the bank was close to concluding its investigations. “If there are alleged irregularities, the Bank will follow through with investigation on the matter and take appropriate steps to ensure that the integrity of the Bank is preserved,” she said. The development at the bank comes after media reports revealed senior officials…