THE Development Bank of Namibia will be under new leadership come August next year after the current chief executive officer Martin Inkumbi decided to step down after 10 years at the helm of the bank.
Announcing his exit yesterday, the bank said Inkumbi did not seek reappointment.
The bank's board of directors said it has since commissioned the commencement of the recruitment process to ensure a seamless transition at the time of his departure.
“The new candidate CEO will be identified and brought on board for a couple of months to shadow Inkumbi during the remaining stretch and familiarise themselves with the bank and ensure continuity,” said the bank.
Inkumbi joined the bank in 2006, and progressed through the ranks to be appointed acting chief executive in November 2012. His appointment as chief executive was confirmed in August 2013.
Under Inkumbi's leadership from 2012, the bank's balance sheet grew from N$2,03 billion to N$9,47 billion.
The bank said Inkumbi has also been instrumental in effectively shaping the bank's structure and operations, as well as the development and implementation of the bank's risk management framework.
He was also lauded for leading and implementing the bank's treasury unit and listing of the N$2,5 billion bond programme on the Namibian Stock Exchange.
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