Martin Inkumbi

DBN offers distressed debtors another chance

DBN offers distressed debtors another chance

Tujoromajo Kasuto The Development Bank of Namibia will implement a Business Rescue Programme for qualifying businesses financed by the bank as a possible alternative to liquidation. This will take the form of preference shares and independent business advisors for selected businesses on the verge of liquidation. The program consists of partial debt conversion into various types of preference shares held by the Bank in the enterprise, as well as the deployment of independent business managers to such entities to provide technical and management advisory services. DBN CEO, Martin Inkumbi, highlighted that not all businesses in distress would qualify or meet…
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DBN announces retirement of CEO a year ahead

DBN announces retirement of CEO a year ahead

Martin Endjala The Board of the Development Bank of Namibia (DBN) has announced that Martin Inkumbi, CEO of the Bank, will step down from his position in August 2023, at the end of his current second five-year tenure, as he would not seek reappointment after serving ten years in the role. The Board has since commissioned the commencement of the recruitment process to ensure a seamless transition at the time of Inkumbi departure. During the intervening period, the Board will seek a potential successor in a transparent manner with the assistance of an external recruitment agency. This was confirmed today…
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