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The Development Bank of Namibia (DBN) has approved funding totaling N$912.7 million for the 2024/25 financial year, an increase of just 0.7% from the N$906.1 million approved for the 2023/24 financial year. The private sector approval amounted to N$562.7 million, slightly lower than the previous year’s N$564.7 million. In contrast, public sector approvals increased from N$341.3 million to N$350 million.
DBN approved 128 loans in the same year, down from 141 in 2023/24. Start-up loans remain weak, with 15 start-up loans approved compared to 16 start-up loans worth N$233.1 million approved in the previous year.
Infrastructure development accounted for the largest share of funding, with the amount approved for 2024/25 amounting to N646.6 million. Social infrastructure dominated this category, receiving N$399 million or 61.7% of infrastructure funding, while public infrastructure attracted N$209 million (32.3%). N38.6 million was paid for land preparation, but no funding for commercial infrastructure was approved.
This represents a marked change from 2023/24, when total infrastructure approvals were N$319.1 million, driven primarily by the N$248.9 million allocated to utility-scale solar projects.
In the same year, DBN approved a N$350 million loan under a N$1.5 billion co-financing agreement with the Development Bank of Southern Africa. The project will support the construction of 8,250 housing units for low- and middle-income households between 2025 and 2029, of which 1,000 units will be allocated to improve informal settlements. This is expected to create more than 100 permanent jobs and approximately 5,400 temporary jobs.
Additional approvals included funding for the partial provision, construction and sale of 109 homes at Rundu Extension 35, Sauemwa South, based on zoning and planning. DBN also approved financing to acquire a portion of the land and develop 50 sectional title duplex units at Rocky Crest Extension 4, with sales prices ranging from N$720,000 to N$1.1 million.
Sectoral data highlights a particular focus on housing and construction. The housing sector received N$399 million, accounting for 43.7% of the total approved, a significant increase from N$34.8 million in 2023/24. Construction approval amount increased from N$89.2 million in the previous year to N$292.9 million (32.1% of the total).
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In contrast, transportation and logistics approvals decreased significantly from N$271 million to N$4.6 million, while power sector funding decreased from N$248.9 million to N$5.8 million, reflecting the absence of large-scale renewable energy projects in the same year. Manufacturing approvals increased slightly from N$66.9 million to N$73.2 million. No loans were approved for the fisheries, communications, water and mining sectors in 2024/25.
