The Development Bank of Namibia (DBN) has unveiled "DBN For Her," a financing initiative targeting 100% women-owned enterprises across all sectors, backed by a N$400 million loan from the African Development Bank. This program offers loans from N$150,000 to N$10 million at prime interest rates, a 12-month grace period during which no interest is charged, and flexible collateral options.
BREAKING BARRIERS
Finance Minister Ericah Shafudah said at the launch: "DBN For Her represents a deliberate and strategic response to structural imbalances in our economy." The initiative supports fully women-owned businesses with between 5 and 300 employees, covering small and medium enterprises as well as larger enterprises across all sectors. "It is not only about access to finance, but also about ensuring that women become active drivers of economic growth, job creation, and national development," Shafudah said.
The facility is supported by a N$400 million loan from the African Development Bank. Loans range from N$150,000 to N$10 million at prime interest rates, with a 12-month grace period during which no interest is charged.
TAILORED FINANCING TERMS
Collateral options include credit guarantees, credit life and project assets, which DBN says make the facility more accessible to women entrepreneurs who may face traditional barriers to securing finance.
ALIGNMENT WITH NATIONAL GOALS
Gender Equality and Child Welfare Minister Emma Kantema commended DBN for a timely intervention aligned with continental, regional and national development priorities.
DBN Board Chairperson Evangelina Nailenge said that without targeted solutions tailored for women there is a risk of unintentionally excluding them from the economy.
ECONOMIC RIPPLE EFFECTS
"When women are given access to opportunities, resources, and support, entire communities are uplifted, economies are strengthened, and nations are transformed," Kantema said.