The Namibian (Windhoek)

30 November 2012

Namibia: DBN Says Goodbye to Nuyoma

THE Development Bank of Namibia (DBN) can “absorb the shock” of founding CEO’s departure because the legacy David Nuyoma leaves behind.

Speaking at the DBN’s year-end function last Friday, its chairperson Elize Angula said the bank’s growth could be attributed to Nuyoma’s “visionary leadership, his love for Namibia, and his dedication to his work”.

“Martin Inkumbi is ready to assume his duties as acting CEO, and, with the prerequisite systems and processes in place, operations at the bank will not be affected by David Nuyoma’s departure,” Angula said.

Nuyoma will take over as the chief executive officer (CEO) and principal officer of the Government Institutions Pension Fund (GIPF) at the beginning of January, after being with the DBN since November 2003. At the time, the DBN had a balance sheet of approximately N$100 million. Under Nuyoma’s leadership, the balance sheet grew to about N$1,8 billion, making it one of the biggest banks in Namibia.

Inkumbi, currently the DBN’s head of lending, will step into Nuyoma’s shoes on January 1.

Also speaking at the year-end function, long-standing DBN board member Asnake Getachew said Nuyoma’s human relationships are based on positivity; that he identifies the positive side in every one and constructively engages with it, be it in individual relations or attainment of institutional objectives.

“David has an exceptional ability to listen attentively and speaks briefly only when he has positive contribution to make. He treats every meeting as an opportunity for learning and sharing and has grown taller in knowledge and experience tremendously. His humility is expressed at all levels of engagement and earned him a deserved respect.

These personal virtues had made David an accomplished leader manifested in the achievements of DBN both in the quality of the staff component and its contribution to national objectives,” Getachew said.

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