Development Bank of Namibia (DBN)

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

PM to act on govt agencies not
supporting youth entrepreneurs

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…
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DBN plans N$500m relief facility

DBN plans N$500m relief facility

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…
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FNB, DBN partner on Credit Guarantee Scheme

FNB, DBN partner on Credit Guarantee Scheme

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…
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DBN suspends three more over loans scandal

DBN suspends three more over loans scandal

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…
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