The Development Bank of Namibia (DBN) has launched a hunt for a new Chief Executive Officer to replace Martin Inkumbi who will be leaving the bank in August at the end of his 10-year tenure.
The banking institution has enlisted the services of a recruitment agency to lead the process, which is seeking a candidate with a minimum 10 years of banking and financial services experience, of which five years should be in an executive role.
Inkumbi has been at the helm of the government-owned bank since August 2013, having risen through the ranks after joining in 2006.
The affable executive is 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.
He has also led the restructuring of 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, Inkumbi led the implementation of the Bank’s Treasury unit and listing of the N$2.5 billion bond programme on the Namibian Stock Exchange.
The latest development comes as the Government Institutions Pensions Fund (GIPF) is also in the market hunting for a new Chief Executive Officer/Principal Officer to replace incumbent CEO, David Nuyoma, who will retire in June this year.
Nuyoma takes a bow after serving 10 years at the helm of the country’s biggest pension fund.
