Development Bank of Namibia Appoints Ndove as New CEO

By Staff Reporter

THE Development Bank of Namibia (DBN), has announced the appointment of Mr. Titus Ndove as Chief Executive Officer, for a five-year term, effective November 1, 2025, following approval by the Board and Minister of Finance.

The announcement was made in accordance with Section 13 of the Development Bank of Namibia Act, 2002 (Act No. 8, as amended). The DBN Board expressed confidence in Mr. Ndove’s leadership capacity, citing his proven track record and vast experience in both the financial and public sectors.

Mr. Ndove brings more than 20 years of expertise in financial markets, economic policy, and public administration. His academic credentials include a Master of Science in Financial Economics from the University of London, a Bachelor of Economics from the University of Namibia, and executive training at institutions such as the London Business School, Harvard Kennedy School, and the International Monetary Fund. He is also a MEFMI Graduate Fellow specializing in debt markets.

Throughout his career, he has held key leadership roles, including serving as Executive Director and Accounting Officer at the Ministry of Works and Transport, as well as the Ministry of Finance. In these roles, he oversaw fiscal policy, infrastructure development, public debt management, and financial sector regulation.

He also held senior roles at Standard Bank Namibia and the Bank of Namibia, where he managed international reserves, government debt portfolios, and market operations.

Beyond his executive roles, Mr. Ndove has actively contributed to Namibia’s development agenda through service on several boards and committees. These include the Bank of Namibia, the UNAM Council, NamRA, the National Council of Higher Education, Namdeb Diamond Corporation, and Namdeb Diamond Holdings. Regionally, he has chaired influential bodies such as the Southern African Customs Union Finance and Audit Committee.

In welcoming Mr. Ndove, the DBN emphasized that his leadership will be crucial in implementing the Bank’s 2029 Integrated Strategic Business Plan and its vision to become the development partner of choice for Namibia.

His expertise in financial sector reform, infrastructure financing, and sustainable development is expected to strengthen stakeholder confidence and foster innovative approaches to national challenges.

“As a state-owned enterprise, the Development Bank of Namibia remains committed to driving inclusive growth, mobilizing resources, and supporting the socio-economic transformation of the country,” the statement read.

The Development Bank of Namibia further states that “Under the stewardship of our new Chief Executive Officer, the Bank will continue to serve the nation with excellence, integrity, and accountability.”

With his appointment, Mr. Ndove is set to guide the DBN in reinforcing its reputation as a trusted partner for Namibia’s economic development and in delivering impactful outcomes aligned with the country’s national agenda.

END…