DBN attains 86% score for compliance
The Association of African Development Finance Institutions (AADFI) recently accorded the Development Bank of Namibia (DBN) a score of 86% on its compliance index, translating to a BB rating.
According to the DBN, it marks a significant improvement from the 82% score in the previous review, showcasing DBN’s steadfast commitment to governance excellence, financial stability, and impactful development.
The rating reinforces DBN as a trusted partner in upholding exemplary standards in governance, financial stability, and impactful development.
DBN’s participation in these reviews underscores its dedication to benchmarking its practices against the highest standards in the Development Finance Institution (DFI) sector, cementing its position as a world-class institution. According to AADFI guidelines, institutions scoring 80% or higher are considered to be in full compliance with its rigorous standards.
Speaking on the achievement, DBN executive spokesperson Jerome Mutumba said it was a testament of the development lender’s resolve to adhere to compliance standards.
“The increase in compliance, compared to the previous year, is a testament to DBN’s robust governance framework and our unwavering dedication to sustainable development. It reflects our ability to uphold international standards of governance and financial integrity, instilling trust and confidence among our stakeholders.”
“This rating underscores our commitment to continuous improvement, with a focus on enhancing transparency in risk management and advancing policies that promote gender equity and poverty alleviation,” Mutumba said.
The AADFI rating reaffirms DBN’s dedication to environmental sustainability and the successful completion of projects that drive Namibia’s growth and prosperity. DBN remains committed to serving our stakeholders with service excellence in all aspects of its operations.
AADFI is an umbrella organisation for development finance institutions in Africa, established under the auspices of the African Development Bank. It promotes cooperation to advance sustainable development and economic integration across the African continent.
The AADFI conducts annual peer reviews, bringing together leading development banks from across the continent. These reviews evaluate adherence to prudential standards relevant to the African context.
According to the DBN, it marks a significant improvement from the 82% score in the previous review, showcasing DBN’s steadfast commitment to governance excellence, financial stability, and impactful development.
The rating reinforces DBN as a trusted partner in upholding exemplary standards in governance, financial stability, and impactful development.
DBN’s participation in these reviews underscores its dedication to benchmarking its practices against the highest standards in the Development Finance Institution (DFI) sector, cementing its position as a world-class institution. According to AADFI guidelines, institutions scoring 80% or higher are considered to be in full compliance with its rigorous standards.
Speaking on the achievement, DBN executive spokesperson Jerome Mutumba said it was a testament of the development lender’s resolve to adhere to compliance standards.
“The increase in compliance, compared to the previous year, is a testament to DBN’s robust governance framework and our unwavering dedication to sustainable development. It reflects our ability to uphold international standards of governance and financial integrity, instilling trust and confidence among our stakeholders.”
“This rating underscores our commitment to continuous improvement, with a focus on enhancing transparency in risk management and advancing policies that promote gender equity and poverty alleviation,” Mutumba said.
The AADFI rating reaffirms DBN’s dedication to environmental sustainability and the successful completion of projects that drive Namibia’s growth and prosperity. DBN remains committed to serving our stakeholders with service excellence in all aspects of its operations.
AADFI is an umbrella organisation for development finance institutions in Africa, established under the auspices of the African Development Bank. It promotes cooperation to advance sustainable development and economic integration across the African continent.
The AADFI conducts annual peer reviews, bringing together leading development banks from across the continent. These reviews evaluate adherence to prudential standards relevant to the African context.
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