DNB ready to finance developing regions
Development Bank of Namibia (DBN) Chairperson Tania Hangula visited the northern regions of Omusati and Oshana to assess the bank’s impact and familiarise herself with projects that the bank is financing.
“The bank is also seeking opportunities to provide finance, particularly in three key sectors identified by the Fourth National Development Plan: manufacturing, transport and logistics, and tourism. Also we hope to make impacts in priority development fields of water security, electricity generation and provision of serviced land,” said Hangula.
“Finance provided by the bank in Omusati and Oshana was an indication of the potential of the regions, and encouraged enterprises, state-owned enterprises, local and regional councils to approach the bank.” Hangula added that the bank’s finance is favourably geared to enabling projects with a beneficial development impact.
On the topic of Erongo, Hangula said that the region is in many ways a model for other regions across Namibia. “Although the region possesses sea ports, long borders with neighbouring countries and multiple access points indicate the potential exists for greater levels of trade.
Hangula also encouraged entrepreneurs to consider opportunities for intra-regional trade with other Namibian regions. “There is ample opportunity for stimulation of economic activity within the borders of Namibia. The bank would like to see the impact of economic activity in Erongo on regions such as Khomas and Kunene also emerging in regions such as Omusati and Oshana.”
She described Erongo as a powerhouse in the Namibian economy, and said that DBN will continue to stimulate the region, in light of its contribution to the region. Her visit to Erongo, she said, was tended to cement relationships between the Bank and key enterprises and regional and local authorities, and identify new areas where DBN finance can have a beneficial impact.
Speaking on regional demand for finance, Hangula said, “Demand was greatest in Khomas and Erongo. This demand is expected to persist, but that the bank is currently seeking opportunities to stimulate all regions with finance offerings.”
Hangula concluded by urging entrepreneurs and infrastructure project initiators to approach the Bank with applications for finance. She is also proceeding to Erongo to assess the projects in the region.