Finance Minister Ericah Shafudah has appointed three new members to the Board of Directors of the Development Bank of Namibia (DBN), effective 1 August 2025 to 31 July 2028.
The appointments were made in line with the Public Enterprise Governance Act No. 1 of 2019 (PEGA) and Cabinet Decision No. 9th/17.06.25/013, the Bank confirmed.
According to DBN, the new board members are Desiree Masheshe, a trained lawyer; Bonifasia Siteketa, a qualified aircraft engineer; and Gerson Kamatuka, a human resource expert.
They join current members Evangelina Nailenge (Chairperson), Willy Mertens (Deputy Chairperson), Patience Kanalelo and Marsorry Ickua, who were appointed in January 2025 and will serve until 31 December 2027.
“Their expertise will strengthen our ability to provide strategic guidance and oversight as DBN continues to drive infrastructure development, enterprise growth, and sustainable economic transformation for Namibia,” said Nailenge.
DBN said the board is responsible for overseeing the implementation of its Integrated Strategic Business Plan (2024–2029), which outlines the Bank’s roadmap for impact-driven financing across infrastructure, manufacturing, and green investments.
The strategy also focuses on improving customer experience, service delivery, and long-term development impact, all underpinned by financial sustainability, organisational culture, and market positioning.
