Jerome Mutumba, the Chief Marketing and Corporate Affairs Officer at the Development Bank of Namibia (DBN), is concerned about the low percentage of loan uptake in the Zambezi Region.

According to Mutumba, the bank has only financed N$1.5 million in the region, which accounts for a mere 0.02% of the total loans approved. 

He points out another troubling trend: a weak entrepreneurial culture in the region, which he believes needs significant improvement.

"Recent statistics indicate that poverty levels have risen in this region, similar to trends seen in many other parts of the country. This is a concerning challenge that can only be partially addressed by fostering a stronger entrepreneurial culture. We offer various facilities, including the SME finance facility and products aimed at young artisans, which do not require security collateral. We have lowered the standards for accessing finance, so we encourage our citizens in this region to take advantage of the products that DBN offers."

Mutumba also emphasized that, beyond providing loans, the bank offers mentorship and coaching for emerging entrepreneurs.

He urged business-minded residents of Zambezi to capitalize on the opportunities available through the bank.

"We want to see an increase in business applications from the Zambezi Region. Together, we can create opportunities that enhance the quality of life for our citizens in this area." 

Despite the bank's outreach programs, which are conducted in every region at least twice a year, Mutumba noted that Zambezi residents have not fully embraced the challenge of business development.

He made these remarks on the sidelines of a donation handover event at Caprivi Secondary School.

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Sililo Mubiana