STAFF WRITER
The Development Bank of Namibia (DBN) has recorded a 42% increase in operating profit to N$88.3 million, underscoring disciplined cost management, improved recoveries, and the resilience of its teams amid a challenging economic environment.
The bank released its 2024/25 Integrated Annual Report (IAR), on Monday reflecting a year of solid financial performance, strategic progress, and deepened developmental impact .
DBN said the reporting period marked a pivotal step in their long-term transformation journey, anchored on four strategic priorities: strengthening financial sustainability, empowering people, sharpening market presence, and deepening development impact.
The Bank secured N$607 million through the KfW Green Credit Line II, obtained approval for a landmark N$1.5 billion sovereign-guaranteed facility from the African Development Bank, and achieved a historic milestone by becoming Namibia’s first institution accredited by the Green Climate Fund.
DBN said it is well-positioned to diversify funding sources, strengthen SME financing, and balance financial prudence with its developmental mandate.
The Bank approved N$912.7 million in funding across priority sectors, with a strong focus on housing and construction to address national infrastructure needs. These investments supported the creation of 1,429 jobs, including both permanent and temporary positions.
The report shows that SMEs remained central to DBN’s development agenda, with 49 projects approved during the year.
“Targeted financing included N$51.5 million for women-owned enterprises and N$24.3 million for youth-owned businesses. The Bank also advanced regional equity by supporting projects in underserved regions such as Karas, Kavango East and West, Kunene, Oshikoto, and Zambezi, contributing to inclusive and balanced national growth,” the report said.
DBN’s Chief Marketing and Corporate Affairs,Jerome Mutumba, said the IAR serves as a critical accountability and performance benchmark for stakeholders.
“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’’, he said.
“The year under review reflects solid financial results, meaningful progress in strengthening our funding base, and measurable developmental outcomes across priority sectors. Collectively, these results demonstrate that DBN is executing its strategy with discipline while remaining firmly focused on supporting Namibia’s long-term economic development,” he concluded.
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