This week the
Since its inception, the Bank has approved 1 446 facilities for 1 149 entities. Of the approvals, 1 228 were for SMEs.
The approvals had an estimated impact on 51 493 jobs and a value of N$ 4.05 billion.
Speaking at the launch, Geingob pointed out the critical role of institutions that organisations such as DBN played in the economic development of
The middle income classification rules out foreign aid and loans, he said, in spite of the fact that poverty still affects many Namibians. Organisations such as DBN play an important role in transforming the economy of the country by providing finance to emerging entrepreneurs.
He said that DBN needs to play a role in ensuring equitable income distribution.
Geingob went on to stress that
He said that banks such as DBN should seek means to provide capital on a more inclusive basis, not just for capital owners.
Speaking on the DBN's achievements, Board Chairperson
She said that the Bank was viewed by peer development finance institutions (DFIs) as one of the DFIs in the SADC region.
She mentioned that the Bank was an innovator in the field of provision of finance on an inclusive basis, pointing to the development of Contract-Based Finance, which provides access to finance by enabling entrepreneurs to make loans using revenue streams from projects as repayment of loans.
She also highlighted DBN's partnership with Nampost in terms of which finance was provided to enable the acquisition of technology which allowed
She concluded by reiterating the Bank's emphasis on 'putting
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