Development Bank seeks sustainability for Nkurenkuru Project Preparation Fund deployed

The Development Bank of Namibia (DBN) recently signed an agreement with the Nkurenkuru Town Council for an N$2.58 million feasibility study, funded by the Bank’s Project Preparation Fund (PPF) for the town’s proposed Extension 6.

Talking about the need for the feasibility study, DBN CEO Martin Inkumbi said that local authorities are over-arching agents of economic development. He explained that the over-arching role entailed a range of impact development points that contribute to economic activity and social development.
In terms of economic activity, Inkumbi said, this could consist of commercial and industrial activity, as well as infrastructure such as roads, power and water. Economic activity generates revenue streams to the local authority, which lead to funds for maintenance of the enterprise environment as well as further infrastructure development.
Social development, Inkumbi explained, consists of provision of social services such as health services, education and other associated services. It also consists of housing and community facilities that are required by residents. These too, he said, generate revenues to the local authority.
Nkurenkuru, Inkumbi noted, is the capital of Kavango West, Namibia’s newest region. However, he said that Kavango West is one of Namibia’s least economically active regions, and so it requires intensive development. Nkurenkuru, he explained, is the economic hub of the region. By developing the town, economic activity would spread to outlying settlements and areas in the region.

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