The Development Bank of Namibia provides a range of products for tenderers and holders of contracts with Government, state owned enterprises and local authorities. Finance is provided on a cession-of-income basis.
Among others, the Bank can provide finance for:
Supply and delivery of goods
Provision of services
Construction of infrastructure
Performance guarantees
In some instances, a Letter of Intent is required to qualify for a tender. Letters of intent to assess applications for tender-based finance are issued by Development Bank, but are in no way binding agreements on the Bank to provide finance.
Find out procedures here…
Tender-based finance is designed for entrepreneurs who have limited operating capital and / or collateral. Development Bank agrees with tender-issuers or contract-issuers (employers) to receive income from the employer once specified project milestones have been reached. The Bank pays invoices on behalf of the tenderer or contractor to enable them to operate. The remaining balance is paid by the Bank to the recipient of tender-based finance after completion of the contract or tender, and after the Bank has received full payment from the employer.
Some tenders or contracts require performance guarantees. The Bank also offers performance guarantees.
The duration of finance is determined by the duration of the tender or contract.
Some tenderers or contractors with established businesses and sufficient collateral may not require tender-based finance. In these instances the Bank can provide:Short-term bridging finance
Application checklist
Finance for installment sales agreements
