Windhoek — Chairperson of the Development Bank of Namibia (DBN) Elize Angula was full of praise for outgoing CEO David Nuyoma for having laid a strong foundation at the bank.

At the time Nuyoma took over from DBN as CEO the bank had a balance sheet of N$100 million compared to the current balance sheet of N$1.8 billion.

Speaking at the recent year-end function of the DBN and the farewell party for Nuyoma, she said the bank was fortunate to have had Nuyoma build its foundations.

Angula said the bank's growth could be ascribed to Nuyoma's visionary leadership, his love for Namibia and his dedication to his work.

Angula added that, because of his legacy, the DBN could absorb the shock of Nuyoma leaving.

"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," she said.

Also speaking at the event, 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 a 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 make David an accomplished leader as manifested in the achievements of DBN, both in the quality of the staff component and its contribution to national objectives," said Getachew.