DBN and DBSA shake hands across the border

The Development Bank of Namibia (DBN) and the Development Bank of Southern Africa (DBSA) have concluded a Memorandum of Understanding (MoU) that has potential far reaching impact for development finance in Namibia.In terms of the MoU, the two banks will establish means to cooperate on and co-finance projects that are of mutual interest to both parties. According to DBN CEO Martin Inkumbi, the substance of the agreement will give both parties the ability to contribute to regional development and prosperity through opportunities in Namibia.Although DBN's mandate precludes it from providing finance for projects outside of Namibia, DBSA and DBN can jointly foster Namibian projects which will have a beneficial impact on Southern Africa, says Inkumbi. The Development Bank of Namibia is seeking avenues to promote regional trade, regional integration, as well as developing robust Namibian infrastructure to support the regional transport and logistics sector.He adds that cooperation among SADC Development Finance Institutions (DFIs) is encouraged by the SADC-DFI Network, of which both the DBN and the DBSA are members, as a means of coordinating and supporting regional economic development and integration.Asked about cross-border capital flows, Inkumbi says both institutions are in the Common Monetary Area, and there are no restriction on capital flows.In addition to potential co-financing of projects of mutual interest, the MoU has, at its core, sharing of information and capacity building.Among the elements of the MoU, DBSA will make available to DBN expertise from its international finance team, as well as product and sector expertise in the fields of energy, transport and water.DBSA may also make available knowledge and implementation skills for bankable projects, as well as assist in project preparation. DBN has established its own Project Preparation Fund to improve loan applications which it considers of vital importance for Namibian development. Inkumbi says that the experience of DBSA in project preparation will be valuable to the bank.Talking about the broader ramifications of the agreement, Inkumbi says that the prosperity of nations and regional stability is best built on cooperative economics. He says the SADC Development Finance Network is of benefit to all. Regionalisation holds many economic benefits, and DBN is proud to contribute to an equitable economic future for all.

DBN and DBSA shake hands across the border

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Republikein 2025-07-07

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DBN and DBSA shake hands across the border

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Republikein 2025-07-07

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