Windhoek, Namibia – The Development Bank of Namibia (DBN) has released its 2024/25 Integrated Annual Report (IAR), reflecting a year of solid financial performance, strategic progress, and deepened developmental impact as the Bank embarked on the first year of implementing its 2024–2029 Integrated Strategic Business Plan (ISBP).
The reporting period marked a pivotal step in DBN’s long-term transformation journey, anchored on four strategic priorities: strengthening financial sustainability, empowering people, sharpening market presence, and deepening development impact. Guided by innovation and resilience, the Bank focused on building a fit-for-purpose organisation, improving the quality of its loan book, and delivering strong profitability to support Namibia’s sustainable socio-economic development.
Strong Financial Performance and Strategic Funding Milestones
DBN recorded a 42% increase in operating profit to N$88.3 million, underscoring disciplined cost management, improved recoveries, and the resilience of its teams amid a challenging economic environment. While pressures related to asset quality and a contracting loan book persist, the Bank has taken decisive steps to stabilise risk and position itself for renewed growth.
A key highlight of the year was the strengthening of DBN’s funding base. The Bank secured N$607 million through the KfW Green Credit Line II, obtained approval for a landmark N$1.5 billion sovereign-guaranteed facility from the African Development Bank, and achieved a historic milestone by becoming Namibia’s first institution accredited by the Green Climate Fund. This accreditation enables DBN to mobilise climate finance in support of Namibia’s just energy transition.
With strong liquidity, a robust capital base, and expanding strategic partnerships, DBN is well-positioned to diversify funding sources, strengthen SME financing, and balance financial prudence with its developmental mandate.
Delivering Tangible Development Impact
In line with its mandate, DBN delivered measurable developmental outcomes during the 2024/25 financial year. The Bank approved N$912.7 million in funding across priority sectors, with a strong focus on housing and construction to address national infrastructure needs. These investments supported the creation of 1,429 jobs, including both permanent and temporary positions.
SMEs remained central to DBN’s development agenda, with 49 projects approved during the year. Targeted financing included N$51.5 million for women-owned enterprises and N$24.3 million for youth-owned businesses. The Bank also advanced regional equity by supporting projects in underserved regions such as Karas, Kavango East and West, Kunene, Oshikoto, and Zambezi, contributing to inclusive and balanced national growth.
Commenting on the significance of the report and the Bank’s performance, DBN’s Chief Marketing and Corporate Affairs,Jerome Mutumba, said the IAR serves as a critical accountability and performance benchmark for stakeholders.
“The 2024/25 IAR is an important accountability and performance milestone for DBN, providing stakeholders with a clear view of how the Bank is delivering on its mandate’’, he said.
“The year under review reflects solid financial results, meaningful progress in strengthening our funding base, and measurable developmental outcomes across priority sectors. Collectively, these results demonstrate that DBN is executing its strategy with discipline while remaining firmly focused on supporting Namibia’s long-term economic development,” he concluded.
The Way Forward
In the 2025/26 financial year, DBN will deepen alignment with the government’s national development agenda by supporting priority programmes and projects that advance inclusive and sustainable economic growth. A key focus will be the National Youth Development Fund, facilitated by the Ministry of Finance, under which DBN is expected to disburse approximately N$64.2 million to youth-owned businesses across all 14 regions of Namibia, strengthening entrepreneurship and job creation at a national scale.
In parallel, the Bank will prioritise the funding of projects of national importance in alignment with the Sixth National Development Plan (NDP6), Vision 2030, and other strategic frameworks. Through targeted financing of catalytic infrastructure, productive sectors, and transformative initiatives, DBN will support long-term economic resilience, regional integration, and broad-based socio-economic development.
By strengthening collaboration with the government, public entities, and development partners, and expanding community engagement, DBN aims to maximise its developmental impact while ensuring financial sustainability and delivering lasting value for the Namibian economy and its people.