DBN refines lending and client support

THE Development Bank of Namibia (DBN) has kicked off 2011 by introducing two new departments, namely Lending, and Business Support and Development.

“We are convinced that the question of money is important but that it is not sufficient to empower entrepreneurs to make a success of their economic endeavours. Moving forward, this department [Business Support] will become a strategic centrepiece for the bank. We believe that the credit-plus approach will remain a distinguishing feature of the DBN’s character,” said DBN chief executive officer David Nuyoma.The two new departments will increase the pace at which the DBN can deliver finance, while improving an entrepreneurial culture in Namibia, Nuyoma said.The new head of Lending, Martin Inkumbi, said he believes that his position, and reorganisation of the DBN’s capacity, offer a significant number of opportunities. Inkumbi, who accepted his responsibilities at the beginning of January, had held the position of portfolio manager since 2006.Former chief operations officer Gottlieb Hinda now heads Business Support and Development. The new department will provide mentoring, training and aftercare support to borrowers.Inkumbi underscored the importance of linkages between the departments to deliver on the distinct model.’There may be clients who are not ready to get a loan. They will be referred to the business support and development department, and we will consider their applications once the necessary support is offered and structuring done.’He added that the lending function will not be radically different from what it has been. ‘The necessary policies and procedures are in place and we have to concentrate our efforts on the next stage of delivery: service delivery. We have to ensure that we are responsive to clients’ needs and able to continually adapt to the changing business environment.’’I’d like to mould the department so that it delivers a positive experience to entrepreneurs engaging the DBN,” Inkumbi continued. “People don’t have to have their loans approved to have a positive experience. Even if we decline an application, we want to be able to assist entrepreneurs, we want to advise and guide them. You can save someone from a bad business venture by giving them good advice. This should also be our responsibility.’According to Inkumbi, the DBN’s offering remains relevant. ‘The bank is living up to the objectives that its principals had in mind. It’s playing a niche role in the market and addressing the financing gap that existed prior to its establishment. This is evident in the growth of the loan book and increased demand for its products,” he said.