The Development Bank of Namibia (DBN) approved N$912.7 million in funding and supported the creation of 1,429 jobs during the 2024/25 financial year, according to the Bank’s 2024/25 Integrated Annual Report (IAR).
DBN said the funding was channelled mainly into priority sectors such as housing and construction and supported both permanent and temporary employment, as the Bank entered the first year of implementing its 2024–2029 Integrated Strategic Business Plan, the report states.
According to DBN, the improved funding position, underpinned by strong liquidity and a solid capital base, strengthens the Bank’s ability to diversify funding sources, expand financing to small and medium enterprises and balance financial sustainability with its developmental mandate.
In terms of development impact, the Bank reported that 49 SME projects were approved during the year, including N$51.5 million allocated to women-owned enterprises and N$24.3 million to youth-owned businesses.
Projects were also supported in regions such as Karas, Kavango East and West, Kunene, Oshikoto and Zambezi, aimed at promoting more inclusive regional development.
The IAR identified the strengthening of DBN’s funding base as a major highlight of the year. According to the report, the Bank secured N$607 million through the KfW Green Credit Line II, obtained approval for a N$1.5 billion sovereign-guaranteed facility from the African Development Bank, and achieved accreditation with the Green Climate Fund, making it the first Namibian institution to do so. DBN said the accreditation enables the Bank to mobilise climate finance in support of Namibia’s energy transition.
The report further noted that the period under review marked a key phase in DBN’s long-term transformation, anchored on four strategic priorities: strengthening financial sustainability, empowering people, sharpening market presence and deepening development impact.
DBN reported a 42% increase in operating profit to N$88.3 million, which the Bank attributed to disciplined cost management, improved recoveries and operational resilience amid a challenging economic environment.
The report noted that pressures related to asset quality and a contracting loan book remain, but said measures have been implemented to stabilise risk and position the Bank for renewed growth.
Commenting on the report, DBN Chief Marketing and Corporate Affairs Officer Jerome Mutumba said the IAR serves as a key accountability and performance benchmark.
“The 2024/25 IAR is an important accountability and performance milestone for DBN, providing stakeholders with a clear view of how the Bank is delivering on its mandate,” Mutumba said.
He added that the year under review reflected “solid financial results, meaningful progress in strengthening our funding base, and measurable developmental outcomes across priority sectors”.
Looking ahead, DBN said in the report that it will deepen alignment with government priorities in the 2025/26 financial year, including support for the National Youth Development Fund. Under the programme, the Bank expects to disburse approximately N$64.2 million to youth-owned businesses across all 14 regions, according to the IAR.
The Bank further stated that it will prioritise funding for projects aligned with the Sixth National Development Plan (NDP6) and Vision 2030, focusing on catalytic infrastructure, productive sectors and initiatives aimed at strengthening long-term economic resilience and inclusive growth.
