Development Bank of Namibia Reports N$62 Million Profit Amidst Job Creation Efforts

The Development Bank of Namibia has announced an investment of over N$21 billion towards the country’s development, resulting in the creation of more than 76,000 jobs since its establishment 20 years ago. For the FY2023/2024, according to reports by The Brief, the bank reported a net operating profit of N$62 million, a significant recovery from the N$270 million loss in 2022. Although the bank aimed for a N$100 million profit, reaching 62% of its target indicates positive progress, attributed to better financial management and a 29% increase in net interest income.