Africa-Press – Namibia. THE Development Bank of Namibia (DBN) has signed a Memorandum of Understanding (MoU) with Norsad Capital, an impact investor and private credit provider offering tailor-made debt solutions to profitable growth-stage companies. In collaboration with DBN, this partnership is set to increase various investment mandates in Namibia, including affordable housing and the financial sector, through injections into banking, insurance, microfinance, and investment funds.
Namibia possesses abundant renewable energy sources, particularly solar and wind power. DBN’s decision to join forces with Norsad will open up possibilities for increased investments in renewable energy projects. This could lead to a reduction in Namibia’s dependence on imported energy while creating a positive impact for communities.
“There are currently a range of investment opportunities in Namibia, including the renewable energy sector, infrastructure, agriculture, and agribusiness, to name a few. We look forward to being part of Namibia’s growth potential through increased investment in these areas, which form part of the four themes and four sectors of opportunity that we’ve identified for expansion across Africa,” says Kenny Nwosu, CEO at Norsad Capital.
Martin Inkumbi, Chief Executive Officer of the Development Bank of Namibia, emphasizes that the institution views finance for small and medium enterprises (SMEs) as vital to the economy. That is why the DBN SME Centre structures finance for SMEs based on the complexity of the project. The Bank works with applicants to develop a deep understanding of their business models, project proposals, and enterprise milestones. This enables the Bank to develop viable financing terms that consider sustainability, risk, and growth.
“A partnership of this nature will allow us to further develop and support SMEs and other businesses with appropriate products such as business loans and commercial property development finance,” adds Inkumbi.
Since its inception, the DBN has prioritized sustainable business practices. This involves providing responsible financing while striving for the best possible financial returns and contributing to improved outcomes for clients, the environment, and society at large.
Norsad Capital aspires to be a thematic impact investor, selecting investments that clearly contribute to addressing social and environmental concerns. They aim to impact 100 million lives by 2030.
With a shared focus on contributing to sustainability and social development, this partnership will have a positive impact on the lives of the people of Namibia.
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