In the intricate embroidery of Namibia’s socio-economic landscape, the Development Bank of Namibia (DBN) stands as a beacon of hope and progress.
As the CEO, I take immense pride in leading an institution that boldly confronts market failures and champions projects deemed challenging by conventional commercial banks. Throughout our journey, DBN has exhibited resilience and a well-defined approach to sustainable development finance, showcasing that even in the face of enormous challenges, progress is not only possible but achievable.
Since inception in 2005, DBN has been a prolific creator of jobs, significantly contributing to the fabric of national development. Our proud history includes generating 115,056 jobs, comprising 35,641 direct jobs, 40,202 temporary jobs, and retaining 39,213 jobs. In 2023 alone, we contributed to a total of 5,267 jobs, impacting the lives of an estimated 21,068 individuals.
Addressing the challenges on the horizon, outlined in the 2022/23 annual report by our esteemed Chair, Mr. Sarel van Zyl, we have set forth a forward-looking strategy. The focus on the ongoing rehabilitation of the non-performing loan book, the imperative resumption of balance sheet growth and the appreciation of our staff and customers underscores our proactive approach to future challenges.
Since joining in September 2023, I am excited about the transformative journey we have embarked upon. Our inaugural integrated annual report provides transparency into the value creation process, outlining accountable strategies for addressing medium and long-term challenges.
Recognizing the complexity of the task ahead, we are designing and implementing a new strategic approach leading up to the financial year of 2029/2030. Confidence radiates from our DBN team as we embark on the rehabilitation of the non-performing loan book through a business rescue fund, leveraging independent business advisors and mentors. Stricter internal risk management and a holistic approach to accountability underscore our commitment to success.
In these times of economic hardship, DBN stands not only as a financial partner but as a caring and responsive ally. We acknowledge the challenges faced by our clients, our communities and Namibia at large, and we remain optimistic about the future. Despite economic hardships, we pledge to play our part with a compassionate touch, fostering an environment of care for both clients and employees alike.
Our renewed strategic focus emphasizes the large- and small-scale projects, green industrialization, rural transformation and impactful projects for sustainable job creation especially for females, the youth, and people living with disabilities.
Collaborations with key stakeholders such as commercial banks, the Government Institutions Pension Fund, unlisted investments, and the Namibian Stock Exchange signal our commitment to deeper cooperation for a more profound development impact. The potential issuance of a sustainability bond on the NSX signifies a bold step towards overcoming financial barriers.
DBN’s commitment extends beyond borders, with regional cooperation flourishing with the Development Bank of Southern Africa, the Industrial Cooperation of South Africa and partnerships with esteemed global institutions like the German Development Bank French Development Agency, and the Gesellschaft fuer Internationale Zusammenarbeit (GIZ). Past collaborations pave the way for future projects, lending, and assistance, contributing to Namibia’s overarching development goals.
Sustainable job creation stands as a key driver, poised not only to alleviate poverty but also to address the unequal distribution of income. As DBN continues its transformative journey, our ultimate goal is to continue owning and driving the national agenda of development and social impact, for a greater Namibia.
* Dr John Steytler is the CEO of the Development Bank of Namibia (DBN)
