DBN scores 86% peer reviewed rating for 2024
NEWS IN SHORT
The Development Bank of Namibia (DBN) says its achievement of an 86% compliance index (BB rating) for 2024, as awarded by the Association of African Development Finance Institutions (AADFI), 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.
AADFI is an umbrella organisation for development finance institutions in Africa that conducts annual peer reviews, bringing together leading development banks from across the continent.
Key highlights of DBN’s AADFI rating include the maintenance of satisfactory board governance and strong equity positions; financing practices that align with international standards as well as the bank’s “satisfactory” approach to environmental sustainability.
The rating also acknowledged DBN’s efficiency and effectiveness, as well as its strong record of project completion.
Speaking on the achievement, DBN spokesperson Jerome Mutumba remarked: “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.”
-Staff Reporter
AADFI is an umbrella organisation for development finance institutions in Africa that conducts annual peer reviews, bringing together leading development banks from across the continent.
Key highlights of DBN’s AADFI rating include the maintenance of satisfactory board governance and strong equity positions; financing practices that align with international standards as well as the bank’s “satisfactory” approach to environmental sustainability.
The rating also acknowledged DBN’s efficiency and effectiveness, as well as its strong record of project completion.
Speaking on the achievement, DBN spokesperson Jerome Mutumba remarked: “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.”
-Staff Reporter
Comments
Namibian Sun
No comments have been left on this article