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Development Bank appoints new Chief Financial Officer

Development Bank appoints new Chief Financial Officer

The Development Bank of Namibia (DBN) this week announced the appointment of Nicky Katapa Mutenda as its new Chief Financial Officer (CFO), effective from 18 December.

Mutenda’s tenure is set for five years following a rigorous selection process overseen by a panel comprising six distinguished individuals drawn from the DBN Board and external experts.

Expressing his confidence in Mutenda’s capabilities, John Steytler, DBN Chief Executive, commended the newly appointed CFO, stating that Nicky is poised to significantly contribute to the bank’s growth and overall success.

Mutenda brings with him an extensive background in finance, boasting over eleven years of experience in the banking sector.

Mutenda holds several professional designations, including Chartered Accountant (South Africa) CA (SA), Chartered Accountant (Namibia) CA (NAM), Chartered Certified Accountant (FCCA), and ACI Financial Markets Association Certified Market Professional (ACICMP). His academic credentials include a Postgraduate Diploma in Accountancy from Rhodes University and a Bachelor’s Degree in Commerce from the University of Namibia. Additionally, he has earned distinctions in the ACI Diploma and ACI Dealing Certificate.

Having joined the Development Bank of Namibia in May 2017 as the bank’s inaugural Manager of Treasury, Mutenda played a pivotal role in establishing a robust treasury function. His commitment and expertise led to successive promotions, culminating in his most recent elevation to the position of Chief Financial Officer and Chief Treasurer. Before joining DBN, Mutenda held the role of Treasury Finance Manager at First National Bank of Namibia Limited and completed his Chartered Accountancy Training Outside Public Practice (TOPP) articles at Absa Bank Limited in Johannesburg.

Beyond his contributions to DBN, Mutenda actively participates in the Namibian corporate landscape, serving as an Independent Non-Executive Director of PowerCom and UNAM Foundation. Additionally, he holds positions as an External Committee Member on the Board Investment Committee of the Motor Vehicle Accident (MVA) Fund and the Finance & Audit Committee of the Namibia Institute of Corporate Governance (NICG).


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