The Development Bank of Namibia (DBN) has approved more than N$819 million in development finance for projects in the Omaheke, Kavango East and Kavango West regions as it intensifies efforts to expand access to funding for businesses, women and youth entrepreneurs.
The financing forms part of DBN’s broader strategy to stimulate regional economic growth and was highlighted during the bank’s four-day stakeholder outreach programme.
The outreach, led by DBN’s executive management, included engagements with regional governors, councillors, businesses and entrepreneurs to strengthen partnerships and promote the bank’s financing products.
DBN said it has approved N$356.19 million for projects in the Omaheke Region, N$331.92 million in Kavango East and N$131.34 million in Kavango West.
The bank said the outreach generated strong interest, particularly in its DBN for Her financing facility, launched earlier this year to improve access to finance for women-owned businesses, and the National Youth Development Fund, which it administers on behalf of the Ministry of Finance.
DBN Chief Executive Officer Titus Ndove said the response reflected growing demand for development finance tailored to entrepreneurs.
“The level of participation witnessed throughout the outreach demonstrates a growing demand for accessible and relevant development finance. Through initiatives such as DBN for Her and the National Youth Development Fund, we are broadening access to finance for women and young entrepreneurs, empowering them to establish and grow sustainable businesses that contribute meaningfully to Namibia’s economic development,” Ndove said.
Since its establishment, DBN has invested more than N$23 billion in productive sectors of the Namibian economy.
The bank said it will continue rolling out its national outreach programme to improve access to finance and support entrepreneurship, investment and job creation across all regions.
This year’s programme follows earlier engagements in the Erongo, Oshana and Omusati regions as DBN expands its nationwide drive to improve access to development finance.
