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‘Expect more’ from Development Bank

‘Expect more’ from Development Bank

The Development Bank of Namibia (DBN) unveiled their new brand positioning, ‘Expect more’ replacing ‘Good business is good for development’. The bank announced the move this week and said that they have come of age and stand ready to make a greater impact on the socio-economic development in the country.

Martin Inkumbi, Chief Executive Officer of DBN said the new positioning statement reflects both the bank’s transformation as well as its ambition for the future, meaning the bank has grown substantially since its inception and evolved.

“Stakeholders and borrowers may expect more by virtue of a deeper pool of capital, but should also expect robust risk management, in keeping with the Bank’s objectives of maintaining financial sustainability,” he added.

In his presentation Jerome Mutumba, Senior Manager: Corporate Communication said that the bank will do more across the board. “There will be more focus on large enterprise, more rapidity on turn-about times, more favourable terms, more mitigatory advice and more development results,” he added.

He stated that the bank will mostly focus on enterprise that make N$5 million or above turn over per year, catering for a unique client, and filling a specific gap that other financials can not fill making sure that there is not much competition or threats for them in the industry.

“Therefore this decision means that the DBN will not be able to help most SMEs,” he said. He also said that all their stakeholders and enterprises should always hold themselves accountable for their actions.

In conclusion Inkumbi said that the bank’s future will be guided by the needs of the nation, and the goal of sustainable development and therefore the best forecast of the bank is to expect more.

About The Author

Mandisa Rasmeni

Mandisa Rasmeni has worked as reporter at the Economist for the past five years, first on the entertainment beat but now focussing more on community, social and health reporting. She is a born writer and she believes education is the greatest equalizer. She received her degree in Journalism at the Namibia University of Science and Technology (NUST) in June 2021. . She is the epitome of perseverance, having started as the newspaper's receptionist in 2013.