The Development Bank of Namibia (DBN) has announced the immediate resignation of its Chief Executive Officer, Dr. John Steytler.

He was appointed in September 2023.

The Board has initiated the recruitment process for a new CEO, and in the interim, John Mbango, Head of Coverage and Large Transactions, has been appointed as Acting CEO until a substantive replacement is named.

Questions sent to Di-Anna Grobler, Corporate Communications and Stakeholder Relations Specialist at the DBN, for clarification have not been answered at the time of this publication.