Namibia: DBN to Support NDP 4 With Sector Specific Lending

17 February 2014

Windhoek — On Tuesday last week the Development Bank of Namibia (DBN) CEO, Martin Inkumbi, announced the bank's strategy for 2014 - 2018, saying DBN would place particular emphasis on three sectors identified by the fourth National Development Plan (NDP 4). Inkumbi outlined the bank's targeted activities in the sectors, detailing that N$750 million is targeted at manufacturing, N$450 million at tourism and N$330 million at transport and logistics. He also identified infrastructural development as a key priority, pointing to development of serviced erven and energy distribution. He said the bank has a sound track record of development of erven and low-cost housing, and that the priority to develop affordable housing is where the bank could make a significant contribution.

The bank would also place emphasis on development of enterprise in rural areas. Talking about this potential, he said that the bank would not finance agriculture, as this is the ambit of the Agricultural Bank of Namibia, but the DBN would seek opportunities to finance secondary and tertiary industries related to agriculture, as a source of employment, as well as a key for underpinning food security.

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