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Development Bank inaugurates expanded office in Walvis Bay

Development Bank inaugurates expanded office in Walvis Bay

The Development Bank of Namibia recently inaugurated its expanded office in Walvis Bay to serve entrepreneurs and enterprises in the towns of the Erongo region.

Chairperson of the Development Board of Directors, Sarel van Zyl, described Erongo as a very important region for economic activity. Van Zyl said the bank has been actively engaged in finance for the region. Early projects included Aqua Utilities to semi-purify water for Walvis Bay, as well as cranes for NamPort. The bank has also made extensive investments in the Erongo tourism and hospitality industry.

He said the bank recognized the need for operational capacity in the region by opening an office in 2014, and to address expectations of substantial growth, the bank has now developed this larger office.

Walvis Bay Mayor, His Worship Trevino Forbes, described his hometown as a microcosm of the larger country, pointing to its tourism and hospitality industry, transport and logistics as well as manufacturing and light industry.

However, he pointed out that Walvis Bay also reflects poverty experienced in Namibia. He said there is a need for a balanced approach to development. In order for the development of enterprises and infrastructure to be of value, the initiatives also have to be of value to the residents in the vicinity, in this case, Walvis Bay.

He went on to describe the needs of Walvis Bay that would improve the socio-economic wellbeing of residents, especially the expansion of residential areas to Farm 37 to alleviate population pressure in Kuisebmond and Narraville. The expansion, Forbes said, should include provision for medical, educational, commercial and recreational facilities.

He called on Development Bank to assist with the development of the town and pledged Council accountability and integrity in dealings with the bank.

The Erongo office plans to serve as a future base for visits to Karas and Hardap.


About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys