The Development Bank of Namibia (DBN) has clarified its position on financing mining exploration activities, stating that it does not provide funding for such business activities.

DBN has faced criticism for allegedly discouraging certain Namibians, particularly small-scale miners, who are interested in acquiring EPLs in the mining sector.

The President of the Emerging Mining Association of Namibia, Theckla Mutero, who represents small-scale miners, expressed criticism towards the DBN during the recently concluded mining and energy workshop for parliamentarians held in Swakopmund.

However, DBN Chief Executive Officer Martin Inkumbi says there is a close connection between mining exploration and gambling, as both involve risks and uncertainties.

According to Inkumbi, exploration projects are typically financed through equity capital, which refers to funds invested by shareholders or other sources of equity.

The Chairperson of the Parliamentary Standing Committee on Natural Resources, Tjekero Tweya, made a strong accusation against the government, claiming that Namibians were intentionally being excluded from acquiring EPLs due to excessively high prices.