Fitch Ratings in London has decided to keep the Development Bank of Namibia Limited's long-term issuer default ratings at 'BB minus' with a stable outlook. 

This means the bank is considered to have a slightly higher credit risk but is stable overall.

Investors worldwide use these ratings to choose investments that are less likely to default and provide a good return.

Fitch also gave the bank a National Long-Term Rating of 'AA Plus,' which means it offers high-quality investment-grade products. 

These ratings show that the bank is financially sound, has enough money to pay its debts, and is unlikely to default.

Fitch thinks the Namibian government might support the bank if needed because the bank plays an important role in government policy and is fully owned by the state. 

The ratings also show that the bank's plans align with the country's development goals, focusing on projects like infrastructure, development, and helping small businesses.

Even though the bank has faced some issues with its loans and has lost money, it still has enough capital and backing from the state. 

However, if Namibia's overall financial situation gets worse or if support for the bank decreases, its ratings could be downgraded. 

On the other hand, if Namibia's financial situation improves, the bank's ratings could go up.

Fitch released these ratings last Friday.

Photo Credits
The Namibian


Emil Seibeb