THE Development Bank of Namibia has extended the contract of its chief executive officer Martin Inkumbi for another five years.
He was initially appointed CEO in 2013 after a period as acting CEO, following the departure of founding CEO David Nuyoma.
During the five years since Inkumbi’s appointment, the bank’s balance sheet has grown from N$2,3 billion with loans and advances of N$1,7 billion at the end of 2013 to N$8,8 billion with loans and advances of N$7,7 billion as at 31 March 2018.
The bank’s core business is to advance development by lending to large enterprises, SMEs and developers of infrastructure.
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