Development Bank of Namibia (DBN) has donated N$500,000 to construct two new classrooms for Maunga School in Zambezi. Maunga School caters to learners up to Grade 4.
Speaking at the handover and inauguration of the classrooms, DBN Head of Marketing and Corporate Communication, Jerome Mutumba, said rural development is central to the government and government institutions must play a part to develop the rural part of the country.
He pointed out that DBN encourages applications for enterprise in rural areas, and that although the Bank does not engage in finance for direct agriculture, it may finance agri-enterprise as well as infrastructure for controlled environment agriculture.
On the topic of the Bank’s interest in finance for education, and the donations it makes to the sector, Mutumba said that education is one of the most significant resources for the future. Suitable facilities are a contributor to the resource as they provide an environment in which young minds can focus on learning without distraction and discomfort.
Speaking at the handover, area induna Pex Isiah asked for additional assistance to build additional classrooms, and electrify new classrooms as well as teachers’ dwellings.
Maunga School Principal Susan Museke noted that the new classrooms will improve learner attendance but also indicated that school facilities still include tents and mud structures that leave room for further development of the school’s facilities.
Mutumba concluded by challenging other institutions to make donations that improve facilities at the school. By focusing resources at a single point, socio-economic needs can be satisfied faster and with greater focus before moving to the next project.
DBN allocates a portion of its revenue to corporate social investment (CSI) in initiatives that cannot sustain commercial finance. In addition to education, the Bank also makes investments in skills development, community safety and health, poverty alleviation, enterprise development, and environmental and biodiversity management.
