Former economic presidential adviser, Dr. John Steytler, officially started his new role as the Chief Executive Officer (CEO) of the Development Bank of Namibia (DBN) on Friday.
This follows the DBN board’s May announcement that Steytler had emerged as the successful candidate after an extensive independent recruitment process.
He will serve in this role for a period of 5 years.
Steytler replaces Martin Inkumbi, who completed his 10-year tenure as CEO on Thursday.
Before joining DBN, Steytler served as the GIZ Namibia Project Leader for the Sustainable Development Goals Initiative. He also previously held the position of Statistician General at the Namibia Statistics Agency.
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 playing an instrumental role in shaping DBN’s structure and operations.
Among other achievements, Inkumbi has led the development and implementation of DBN’s risk management framework.
He also spearheaded the restructuring of the Bank’s operations, which now includes an SME Finance Department, an Investment Department, and a Portfolio Management Department to oversee borrowers after lending.
DBN, known for its provision of finance to viable enterprises and sustainable initiatives, aims to contribute to the development of Namibia.
