Development Bank of Namibia seeks projects to finance in Kunene

Development Bank of Namibia (DBN) Head of Marketing and Corporate Communication, Jerome Mutumba, has announced that the Bank will visit larger centres in Kunene to stimulate demand for development finance. The visits begin in Khorixas on 9 July, continue to Outjo and Kamanjab, both on 10 July, and end on 11 July in Opuwo.

Talking about the Kunene region, Mutumba says it is a model for what development can achieve, and the Bank’s finance can assist the region to develop further. To illustrate, Mutumba points to transformation of Khorixas through enterprise. He says the Bank will seek to further stimulate enterprise in all four towns.

The Bank has placed a high priority on development of affordable land and housing, as well as associated social infrastructure such as privately owned medical facilities, and schools, and so will open its doors to enquiries about projects of this nature.

He identifies local retail and wholesale operations, as well as small manufacturing enterprises as additional drivers of development. These can serve local communities, as well as the tourism trade and tourists.

He adds that the Bank also sees opportunities in conservancy lodges. He explains that these lodges bring direct benefits to small communities that are not easy to reach with finance in towns. In addition to revenue for the communities, they also create opportunities for employment, either at lodges or for local guides.

In terms of infrastructure, Mutumba says that there is clear economic potential in improving the road infrastructure. A town or community that is reached by a good road becomes more economically viable for enterprises, and the pace of economic activity increases.

Mutumba goes on to challenge entrepreneurs and local authorities of the Kunene region to approach the Bank for finance. The region has the potential to become a powerhouse in Namibia’s broader economy, he says. However, he continues, in order for the Bank to fulfil its role of nurturing Kunene with finance, entrepreneurs and local authorities need to approach the Bank with viable business plans and project proposals.

The purpose of the visit to Kunene is to provide information on the Bank’s offering and requirements, so that applications have a greater possibility of success. Mutumba concludes by urging entrepreneurs and local authorities to attend the information sessions. The sessions he says, are first steps to bridging the gap between ambition and finance.