Windhoek — The Development Bank of Namibia has quashed assertions that its financing is often extended to well-connected individuals, saying it always follows an exact set of requirements on a fair and transparent basis of sound business principles.
"Finance is approved for enterprises that are most likely to fulfil its mandate of creating employment, spreading ownership to formerly disadvantaged Namibians and stimulating enterprise in regions that need greater levels of economic activity. If the bank is satisfied that the enterprise fulfils these requirements, it will consider the viability of the proposal. If the proposal is not viable, the application will be declined," said the bank's communications manager, Jerome Mutumba.
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