Development Bank of Namibia funds two Veggie-tunnels

The Development Bank of Namibia (DBN) has injected N$50,000 to Hope Village in Greenwell Matongo, Windhoek to finance the erection of two Veggie-tunnels to be used for vegetable cultivation and irrigation in the tunnels.

DBN Chief Executive Officer, Martin Inkumbi said, “Not all projects are able to benefit from the commercial approach that the Bank takes. To support projects of that do not qualify for traditional loans, the Bank sets aside a portion of its profits for corporate social investment.”

The Hope Village Veggie-tunnels are what the Bank considers an excellent investment as it will not measure it in terms of financial returns seeing that the Veggietunnels will create significant benefits for the children the community and the future of Namibia.

By growing its own food, Hope Village will reduce its requirement for financing from external sources, and will be able to have greater security by providing sound nutrition for its family in a sustainable manner.

Hope Village says, “In addition to food for the children, surplus produce will be sold to the community of Greenwell Matongo, and the project will create employment opportunities.

Inkumbi opinions that teaching children how to grow their own food makes them sustainable in later life and with the knowledge that food can be grown at home, the Bank hopes that they can become future producers for themselves, for their families, friends and communities.

“A large part of urban Namibians do not have access to agricultural land or the means to produce food, and many lack the skills. Their experience of agriculture is that it is an exchange of cash for bags of fruit and vegetables. If the cash or produce is not available, nutrition is restricted.”

DBN has implemented an environmental and social management system that promotes the wellbeing of people and the environment. The donation is informed by the Bank’s concern for both those aspects, now and in the future.

“DBN expects more from the future, and the donation is an expression of that hope,” concluded Inkumbi.

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