Development Bank of Namibia — state-owned institution providing loans and financing to businesses, youth entrepreneurs, and infrastructure projects since 2007.
Development Bank of Namibiaobtained a default judgment in April 2022 in the Windhoek High Court againstRossmund Golf Course CC for N$19.9 million plus interest at 12.75% per year
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“The auction at which the golf course was sold followed a default judgement obtained by the Development Bank of Namibia (DBN) in April 2022 in the Windhoek High Court.”
Development Bank of Namibiaparticipated inmeeting to review YDF progress and funding access
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“The milestone was announced during a meeting between the Development Bank of Namibia, the Environmental Investment Fund, Agribank of Namibia, the Prime Minister, and the Minister of Finance, where stakeholders reviewed progress and outlined measures to improve access to funding for young people.”
Development Bank of Namibiaobtaineddefault judgment for N$19.9 million payment
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“The auction was arranged as a result of a default judgement for the payment of N$19.9 million that the DBN obtained against the close corporation in the Windhoek High Court in April 2022.”
Development Bank of Namibiaapprovedapproximately N$15 million for youth business financing
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“The Fund, introduced by the Ministry of Finance, has approved the expansion of youth business financing through the Development Bank of Namibia (DBN), with approvals totaling approximately N$15 million.”
Development Bank of NamibiagrantedN$8.6 million in funding approvals between 1 November 2025 and 30 January
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“Ministry of Finance spokesperson Wilson Shikoto says funding approvals of N$8.6 million were granted to these enterprises through the Development Bank of Namibia (DBN) between 1 November 2025 and 30 January this year.”
Development Bank of NamibiagrantedN$8.6 million to 30 youth-owned enterprises between November 2025 and January
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“According to Ministry of Finance spokesperson Wilson Shokoto, funding approvals of N$8.6 million were granted to 30 youth-owned enterprises through DBN between 1 November 2025 and 30 January.”
Prime Minister Dr Tjitunga Elijah Ngurare visited the Development Bank of Namibia to assess the National Youth Development Fund and urged officials to provide clear, constructive feedback to applicants whose submissions need improvement, rather than leaving them without guidance. He called for faster resolution of administrative bottlenecks and innovative outreach to fully utilise the N$500 million allocated to the fund.
Why it matters
The Prime Minister's intervention at the Development Bank calls for faster feedback and reduced bottlenecks in youth entrepreneurship funding.
Prime Minister Dr Tjitunga Elijah Ngurare visited the Development Bank of Namibia to assess the National Youth Development Fund and urged officials to provide clear, constructive feedback to applicants whose submissions need improvement, rather than leaving them without guidance. He called for faster resolution of administrative bottlenecks and innovative outreach to fully utilise the N$500 million allocated to the fund.
As TotalEnergies and other companies approach final investment decisions on Orange Basin projects before 2026, the oil and gas sector will begin broad procurement across raw materials, infrastructure, and services. However, most Namibian small and medium enterprises are not yet positioned to compete for these opportunities.
Andrada Mining Limited has secured N$98 million in conditional debt financing from Bank Windhoek and the Development Bank of Namibia to support expansion projects at Uis Mine in Erongo. The funds will be used for construction and commissioning of an ore-sorting circuit, increased crushing capacity, accelerated stripping activities, and resource estimates.
Two senior TransNamib Holdings executives suspended in February over allegations of property mismanagement and statutory breaches returned to work on Tuesday following a directive from the works and transport minister. Their disciplinary hearing is continuing.
A year after cancellation over single-sourcing concerns, TransNamib will restart the process to buy 23 new locomotives for N$1.7 billion following an independent technical evaluation of manufacturers. The procurement will proceed through the Central Procurement Board of Namibia using secured development finance.
The Development Bank of Namibia has launched a new Client Portal, a secure, mobile-friendly digital platform enabling existing clients to manage their profiles, access account information, and connect with portfolio analysts. The launch forms part of the Bank's five-year strategic plan prioritising digital transformation for improved service delivery and client engagement.
President Nandi-Ndaitwah announced expanded government programmes to address youth unemployment through training, skills development, and funding. The initiatives include mushroom cultivation and biomass training, the Youth Credit Scheme, and the Youth Development Fund, which has approved 211 projects worth N$63.1 million with potential to create 898 jobs.
The state-owned Roads Contractor Company has requested a N$500 million loan from the Development Bank of Namibia to build sport stadiums across 14 regions without a public tender process. The project, part of the president's infrastructure pledge to all 121 constituencies, has raised concerns about unclear costs, lack of transparency, and potential involvement of foreign contractors despite a directive limiting subcontracting to local small and medium enterprises.
The Ministry of Education, Innovation, Youth, Sport, Arts and Culture said it had not appointed the Roads Contractor Company to source funding from the Development Bank of Namibia for sport stadiums, nor was it aware of or party to any loan application by the RCC. The ministry said it remains the custodian of sport infrastructure development and is implementing its national programme with N$5 million per facility as part of phase 1 of a long-term, phased approach.
The Development Bank of Namibia has disbursed N$1 billion towards a national health infrastructure programme, part of the government's "Roadmap" initiative. The funding will support construction of a 500-bed Windhoek District Hospital and district hospitals in Nkurenkuru, Otjiwarongo, and Ondangwa to address bed shortages and improve healthcare access.
The Development Bank of Namibia has allocated N$1 billion for construction of a 500-bed Windhoek District Hospital in Havana to address bed shortages and ease pressure on existing facilities in the Khomas region. The project is part of the government's healthcare infrastructure development plan and is expected to stimulate economic activity through construction and job creation, though land clearing remains pending before work commences.
Robert Eiman, chief executive of Nampost Financial Brokers, has been appointed as the new chief executive of Agribank effective 1 July, succeeding Raphael Karuaihe who retired in March.
The Development Bank of Namibia has launched "DBN for Her," a financing initiative designed to increase access to credit for women-owned businesses. The product offers loans at prime interest rate with a 12-month grace period and credit guarantee scheme to address the documented funding gap, with women having received only about 14% of DBN's total funding to date.
The Development Bank of Namibia has approved N$22.74 billion in loans since 2007, with only N$1.87 billion (14.3% of private sector funding) directed to women-owned enterprises. The bank launched the 'DBN for Her' programme and noted that women's share of approvals has declined to 5% in the current financial year, down from a peak of 22.6% in 2016/17.
The Development Bank of Namibia has launched DBN For Her, a women-focused financing initiative backed by N$400 million from the African Development Bank, offering loans ranging from N$150,000 to N$10 million to women-owned businesses employing between five and 300 people.
Rossmund Golf Course was sold for N$41 million at a judicial auction, with businessman Bokkie Thorburn as the winning bidder. The sale followed a default judgment obtained by the Development Bank of Namibia against the golf course operator for N$19.9 million plus interest.
Young entrepreneurs have received N$40.1 million through the Youth Development Fund since its launch last year. Development partners are introducing online applications, satellite offices in regions, and business workshops to improve access and address barriers including incomplete applications and limited awareness.
The Windhoek High Court rejected an urgent application by Rossmund Golf Course CC to stop a judicial auction of the course near Swakopmund, with Judge Gabriel Komboni ruling the applicants had not met the requirements for urgent hearing. The 53.6-hectare golf course was set to be auctioned on Wednesday following a default judgment for N$19.9 million owed to the Development Bank of Namibia.
Landless People's Movement leader Bernardus Swartbooi has called on the government to consider exporting labour to address Namibia's 36.9% unemployment rate, citing examples from Kenya, Uganda and Ghana that place workers in Gulf Cooperation Council states. He criticised the government's emphasis on education without corresponding job creation and argued that investment in productive sectors like agriculture and energy should be prioritised over social spending.
Opposition MPs and analysts have criticized the government's agreement to give China General Nuclear Power Group a 70% controlling stake in a N$3-billion coastal desalination plant while the state retains only 30%, raising concerns about water sovereignty and affordability for poor Namibians. NamWater and Swakop Uranium defended the joint venture structure as necessary to finance critical infrastructure while maintaining public sector participation.
The finance ministry plans to reduce subsidies and capital transfers to state-owned enterprises from N$1.3 billion in 2025/26 to N$615.7 million in 2026/27, citing fiscal consolidation and high public debt. Several SOEs including TransNamib and the Agricultural Bank of Namibia will receive no government transfers, while priority support goes to the National Housing Enterprise and Road Fund Administration.
President Nandi-Ndaitwah reported at the African Peer Review Mechanism Summit that the National Youth Development Fund, established in 2025 with N$500 million capitalisation, created over 700 jobs in the 2025/26 financial year through loans and grants without collateral requirements. Namibia is also addressing youth unemployment through free tertiary education, mandatory internship programmes, and vocational training centres across all 14 regions.
President Netumbo Nandi-Ndaitwah announced that N$62.3 million from the National Youth Development Fund has been disbursed to 140 youth projects, creating approximately 722 jobs. The N$500 million fund, launched in 2025, provides loans and grants to young entrepreneurs without collateral requirements.
The Bank of Namibia has appointed John Steytler and Helvi Fillipus to its monetary policy committee to strengthen the formulation and implementation of monetary policies aimed at safeguarding price stability. Steytler, with three decades of national and international experience including previous roles at the central bank and Development Bank of Namibia, joins as the first independent member, while Fillipus, currently an economic adviser at the Bank of Namibia, joins as the committee's youngest member.
The Bank of Namibia has appointed Helvi Fillipus and Dr John Steytler to its Monetary Policy Committee. Fillipus, an economic advisor at the bank and its youngest MPC member, brings expertise in macroeconomic research and public finances, while Steytler, a distinguished economist and former senior BoN official, joins as the first independent member for a three-year term.
The Development Bank of Namibia has approved approximately N$15 million through the National Youth Development Fund to support 46 youth-owned enterprises aged 18 to 45, with collateral-free financing ranging from N$60,000 to over N$1 million at interest rates of 2–4% per annum. The Fund, launched in September 2024, continues to accept applications on a rolling basis through regional governors and participating development finance institutions.
The National Youth Development Fund has approved N$14.9 million in financing for 30 businesses and expects to create 147 jobs. The fund, launched in September 2025 with N$500 million allocated, offers collateral-free loans at 2% to 4% interest to young Namibians aged 18 to 45 to boost entrepreneurship and reduce youth unemployment.
The National Youth Development Fund has approved N$14.9 million in financing for 46 youth-owned businesses through the Development Bank of Namibia, with about 40 additional applications under assessment. The fund, a N$500 million initiative supporting Namibians aged 18–35, offers loans from N$60,000 to N$1 million at interest rates from 2%, with no collateral required.
Bank BIC Namibia has appointed Erastus Hoveka as chief executive effective February 2, bringing three decades of financial services experience in retail, corporate, investment banking and development finance. The bank also appointed two new non-executive directors and says Hoveka will lead efforts in digital banking, customer service and economic empowerment.
Deputy agriculture minister Ruthy Masake told young Namibians at an Oniipa engagement that the future of agriculture rests in their hands, urging them to embrace modern farming practices and access low-interest loans through the National Youth Development Fund launched in September 2025. Legislator Willem Amutenya stressed the need to commercialise production on communal land and secure reliable markets for northern region produce.