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Development Bank of Southern Africa

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Development Bank of Southern Africa
Company typeGovernment-owned
IndustryFinance
Founded1983[1]
HeadquartersJohannesburg, South Africa[2]
Key people
Pravin Gordhan (Governor)
Patrick Dlamini (CEO)
ProductsBanking
RevenueR 4.41 billion[2]
Increase R 332 million[1]
Number of employees
1,000[2]
Websitewww.dbsa.org

The Development Bank of Southern Africa (DBSA) is a development finance institution wholly owned by the government of South Africa that seeks to "accelerating sustainable socio-economic development and improve the quality of life of the people of the Southern African Development Community (SADC) by driving financial and non-financial investments in the social and economic infrastructure sectors".[3]

History

The idea for DBSA first came up in November 1979 during a government meeting in Johannesburg.[4] The DBSA was established in September 1983 to "perform a broad economic development function within the homeland system of government that prevailed at the time". In April 1997 DBSA was reconstituted as a development finance institution as per the Development Bank of Southern Africa (DBSA) Act of 1997. By 2006, new project approvals had increased from 63 to 145, and the number of households benefitting from new or improved basic services thanks to DBSA operations exceeded 1 million.

After an organisational review, however, DBSA activities were refocused on infrastructure funding and delivery,[4] and the same year DBSA approved loans worth R 9.6 billion for renewable energy projects.[2] In 2013 the National Treasury approved a R 7.9 billion capital injection for DBSA over a three-year period from April 2013 to March 2016. The aim of the intervention was to support the DBSA’s refocused mandate of driving its infrastructure funding by supporting municipal lending, the infrastructure plans of state-owned enterprises, regional lending and funding for public-private partnerships. In 2014 Parliament expanded the DBSA mandate to include select African countries outside of the 14-country Southern African Development Community (SADC) area.[4]

Projects

DBSA has supported many infrastructure development projects throughout southern Africa, such as Lesotho's Highland Water Project and its award-winning public-private partnership public hospital, Namibia’s Ohorongo Center Plant, Zambia’s Lusemfwa independent power producer, and Mozambique’s Mozal Aluminum Smelter.[5]

References

  1. ^ a b "Development Bank of Southern Africa Annual Report 2010/2011" (PDF). Development Bank of Southern Africa. March 2011. Retrieved October 4, 2011.
  2. ^ a b c d "Customer Snapshot: Funding that Builds Economic Promise for Southern Africa". SAP. Retrieved 6 December 2014.
  3. ^ "DBSA as an organisation". DBSA. Retrieved 6 December 2014.
  4. ^ a b c "Historical Milestones". DBSA. Retrieved 6 December 2014.
  5. ^ "Development Bank of Southern Africa". International Development Finance Club. Retrieved 6 December 2014.
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