Inkumbi encourages going green

07 October 2021 | Banking

The Development Bank of Namibia (DBN) announced a facility to finance climate change adaptation, bolstering its track record of finance with beneficial environmental and social initiatives.
Explaining the facility, DBN chief executive Martin Inkumbi said it provides an affordable and tailored financing solution for climate and environmental friendly projects.
“The bank previously financed low-carbon renewable energy generation, water reclamation for industrial use in Walvis Bay, water storage in Neckartal Dam and reclamation initiatives.
“Finance for climate adaptation is important, and there is a range of affordable financing instruments for such business projects. The bank has already pioneered financing models for renewable energy, and is now setting its sights on, energy and water use efficiency as well as mitigating the effects of rising temperatures.”
On the topic of water, Inkumbi said that the DBN has financed large scale water infrastructure such as Neckartal Dam and Aqua Utilities, which semi-purifies water for industrial use at Walvis Bay. However, he said that in the face of prolonged droughts, there is an opportunity for enterprises to invest in water efficiency.
“Investing in technology and processes that are energy and water efficient reduces the amount of energy and water consumption per output for a business, which lowers production and or operational costs and improve profitability. Although water efficiency will not alleviate drought, it can lead to improvements in enterprises bottom line, in addition to preserving the environment.”

Examine energy, water use
Inkumbi urged enterprises to examine their energy and water usage and co, and develop innovative methods to reduce their water usage and associated costs.
He added that the bank has experience in water reticulation for local authorities and PPPs, but that there was still scope for further development in terms of water recycling, reclamation and storage in abattoirs.
On the topic of rising temperatures, Inkumbi noted that there is a twofold cost. “The cost is the cost of cooling facilities, and the second is the cost of mitigating health issues caused by rising heat. The cost of cooling facilities adds to the cost of an enterprise. It also places a burden on power generation. By constructing plants and facilities with heat dissipation in mind, these circumstances can be mitigated.”
He extended the benefits of energy efficient housing developments, explaining that incorporating heat dissipation would reduce the cost of running a household as well as improving the health of its residents. This, he said would dovetail well with the Bank’s finance for affordable housing projects.
Asked about how the facility would benefit enterprises and initiatives, Inkumbi said that there is an understandable reticence to finance projects with unfamiliar financing outcomes.
“This was the case when DBN pioneered finance for privately owned renewable energy. The bank, however, de-risks innovative projects with extensive due diligence on innovation and absorbs, manages and learns from its risks. In this way, we hope to pioneer finance for climate change adaptation that will make Namibia more sustainable.”
Inkumbi concluded by calling on engineers, architects, consultants and project managers to lean more towards energy and water efficient designs, and for businesses to approach the Bank for finance. Although you may have reservations about pitching new technologies and techniques, the Bank will give them consideration for finance if you can demonstrate their feasibility.

Similar News

 

FirstRand launches FirstJob internship programme

5 days ago - 24 November 2021 | Banking

FirstRand Namibia launched the FirstJob internship programme in line with the group’s purpose and broader Namibian talent development drive, and especially towards starting to address...

Black Friday: Watch your card!

1 week ago - 19 November 2021 | Banking

Namibia has witnessed an upsurge in online shopping opportunities over the past two years as numerous retailers now offer this option, while a number of...

Capricorn Corner building revealed

2 weeks ago - 12 November 2021 | Banking

The corner of Nelson Mandela Avenue and Hofmeyer Street in Klein Windhoek buzzed on Thursday evening, as guests attended the unveiling of Capricorn Group’s state...

Make your money work for you…

3 weeks ago - 04 November 2021 | Banking

Namibia has just received an all-time record high fuel price hike – an increase that will really affect consumers’ pockets. With this increase, it is...

Masule next acting CEO

3 weeks ago - 03 November 2021 | Banking

The Board of the Agricultural Bank of Namibia has appointed the Executive Manager Credit, Emmanuel Masule (pictured) as the Acting Chief Executive Officer of the...

Ngaujake heads SBN investment services

1 month - 28 October 2021 | Banking

Standard Bank Namibia announced the appointment of Michelle Ngaujake as Manager Investor: Services, effective 16 August 2021.With a Business, Economics and Invest Management background, Ngaujake...

Kids, start saving ASAP

1 month - 28 October 2021 | Banking

Parents and elders often start saving for their children from a young age. While this initial step is great in helping them set up their...

International support for local MSMEs

1 month - 22 October 2021 | Banking

Proparco – a subsidiary of Agence Française de Développement (AFD) focused on private sector development – has granted a Euriz guarantee of N$68 million to...

SBN’s Geises top of the charts

1 month - 17 October 2021 | Banking

Standard Bank Namibia Holdings chief executive Mercia Geises features in the 17th position on the list of 50 women CEOs leading corporate Africa.Africa.com undertook a...

PIN: Keep it on the down low

1 month - 12 October 2021 | Banking

Windhoek • Johnny TruterThere is a four-digit number that gives banking customers access to their money. Fraudsters are aware of this information and are always...

Latest News

Kiddie Sport remains a hit

9 hours ago | Sports

Since 1992, Kiddie Sport has been introduced to most pre-primary and primary schools in the capital, which means that the programme has been taking place...

Big cheque for Autism Association

10 hours ago | Sports

The Nedbank for Autism Series has again shown spectators far and wide why it is one of the most influential sought after golfing events on...

Things to consider when buying...

10 hours ago | Agriculture

Windhoek • Hanks SaisaiCrop farming is an agricultural activity that involves the tilling or cultivation of the land to ensure its preparedness before a farmer...

16 completed projects handed over

1 day - 28 November 2021 | Environment

The Empower to Adapt: Creating Climate Change Resilient Livelihoods Through Community Based Natural Resource Management in Namibia (CBNRM EDA) Project officially handed over 16 completed...

The role of CSR as...

1 day - 28 November 2021 | Opinion

Windhoek • Marlize HornCorporate Social Responsibility (CSR) is a broad term, but in essence it is the ownership that a company takes for its role...

Lifers make bid for early...

1 day - 28 November 2021 | Justice

Windhoek • [email protected] men sentenced to ultra-long imprisonments including life, are battling to be released on parole after serving more than half of their jail...

Munisipale bateregister uiteindelik in plek

4 days ago - 25 November 2021 | Government

Windhoek • [email protected] Windhoek munisipaliteit sê sy bateregister is voltooi ten spyte van kommer wat deur die kantoor van die ouditeur-generaal (OG) geopper is dat...

Osona area hit by veld...

4 days ago - 25 November 2021 | Disasters

Although the veld fires in the area surrounding Windhoek have calmed down recently, several major fires broke out countrywide yesterday. This image shows a fire...

Rolspelers vergader oor straatkinders

4 days ago - 25 November 2021 | Social Issues

Die ministerie in die presidensie verantwoordelik vir geslagsgelykheid, armoede-uitwissing en maatskaplike welsyn is die gasheer van ’n driedaagse slypskool om ’n oplossing te probeer vind...

Load More