The Development Bank of Namibia has responded to the Black Business Leadership Network of Namibia’s petition, explaining that it has been and remains responsive to economic challenges faced by entrepreneurs in the country in line with its legal mandate and strategic business objectives. CEO, Martin Inkumbi, also insisted that “the DBN has not called up any loan for any business enterprise that was in good standing before the arrival of Covid-19” and that the Bank “will continue negotiating suitable loan repayment arrangements for borrowers affected by depressed business revenue as a result of Covid-19”. He however explained that the Bank has “a legal obligation, as an accountable lender of public funds, to recover all money lent out, plus interest charged” and cautioned the BBLN to “not allow itself to be used by borrowers who see it as an opportunity to avoid loan repayment responsibilities”.
