Chamwe Kaira
The Development Bank of Namibia (DBN) has allocated a substantial sum of N$19.4 billion as part of its transformative lending strategy aimed at addressing persistent economic challenges since its establishment in 2014.
This revelation was brought to light by Hellen Amupolo, DBN’s Head of Investments, during a presentation on financing in the oil and gas sector titled ‘The Role of a DFI.’ The presentation took place at a recent oil and gas conference held in Windhoek.
Amupolo highlighted that N$845 million has been committed to renewable energy projects, resulting in a combined capacity of 63 MW. In terms of funding duration, the DBN supports public sector projects for up to 20 years and private sector initiatives for 15 years. Additionally, public-private partnerships receive funding for projects spanning up to 20 years.
Among the recent beneficiaries of DBN’s funding is the Uis Tin Mine, a venture that has been revitalized after years of dormancy. The project received a substantial injection of N$100 million from the DBN. Another noteworthy undertaking is the Ohorongo Cement (Pty) Ltd, Namibia’s inaugural cement plant, which secured funding amounting to N$240 million.
Notable infrastructure includes the National Energy Fund, a strategic national oil storage facility, financed with a N$4.2 billion debt facility from the DBN. The development of Ongos Valley in Windhoek also received a boost through a N$420 million loan from the DBN, while the Omburu Sun Energy project, a 5MW Solar PV initiative, was granted N$84 million in funding from the DBN.
