Development Bank of Namibia (DBN) Chief Executive Officer, Martin Inkumbi is set to step down from his role in August 2023, at the end of his current second five-year tenure.
The bank’s board has since commissioned the commencement of the recruitment process to find a replacement for Inkumbi who joined the DBN in 2006, and progressed through the ranks to be appointed Acting CEO in November 2012, until his appointment as CEO was confirmed in August 2013.
“During the intervening period, the Board will seek a potential successor in a transparent manner with the assistance of the external recruitment agency. The new candidate CEO will be identified and brought on board for a couple of months to shadow Martin Inkumbi during the remaining stretch and familiarise themselves with the Bank and ensure continuity.” DBN board Chairperson, Sarel van Zyl said.
Inkumbi has been credited by the bank’s board for growing its balance sheet from N$2.03 billion in 2012 to N$9.47 billion in 2021 and for being instrumental in shaping DBN’s structure and operations.
“Among others, Inkumbi has led development and implementation of DBN’s risk management framework, as well as restructuring the Bank’s operations to encompass an SME Finance Department, an Investment Department and a Portfolio Management Department to manage borrowers, post-lending. In addition, he led implementation of the Bank’s Treasury unit and listing of the N$2.5 billion bond programme on the Namibian Stock Exchange,” said van Zyl.
