The Development Bank of Namibia (DBN) has achieved an 86% compliance index (BB rating) for 2024, awarded by the Association of African Development Finance Institutions (AADFI).
This marks an improvement from the previous review’s 82% score and underscores DBN’s commitment to governance excellence, financial stability, and impactful development.
The AADFI, an umbrella organization for Africa’s development finance institutions, promotes sustainable development and economic integration across the continent. The rating highlights DBN as a trusted institution adhering to exemplary governance and operational standards.
The annual AADFI peer review evaluates adherence to prudential standards tailored to the African context, positioning DBN among the continent’s top-performing development finance institutions.
Institutions achieving scores of 80% or higher are recognized as fully compliant with AADFI’s stringent benchmarks.
DBN’s high rating reflects strong board governance, sound equity levels, effective environmental policies, and efficient project completion. However, the review identified areas for improvement, including the publication of an integrated risk management policy and the adoption of policies promoting gender equity and poverty alleviation.
“The increase in compliance compared to the previous year is a testament to DBN’s robust governance framework and our unwavering dedication to sustainable development. It reflects our ability to uphold international standards of governance and financial integrity, instilling trust and confidence among our stakeholders,” DBN’s Chief Marketing & Corporate Affairs Officer, Jerome Mutumba said.
“This rating underscores our commitment to continuous improvement, with a focus on enhancing transparency in risk management and advancing policies that promote gender equity and poverty alleviation.”
