JOHANNESBURG - The Development Bank of Southern Africa (DBSA) wants to expand and diversify its product offering in order to provide non-traditional balance sheet financing with greater support throughout the infrastructure value chain.
Chief executive Patrick Dlamini said on Tuesday that the bank had produced a strong set of results and delivered infrastructure development impact despite a challenging operating environment.
“South Africa and the continent’s needs for infrastructure development remain critical. As a result, in the financial year under review the DBSA further improved its strategy to ensure that its catalytic role is optimised by drawing private sector and other third-party funding closer to the multitude of opportunities for developing Africa’s much-needed infrastructure,” he said.
In the year to end March, DBSA reported a net profit of R2.8bn, up from R2.6bn while revenue was up by 13% to R4.7bn, up from R3.6bn as compared to last year. The DBSA also delivered R48.2bn in total infrastructure development support, with development assets now standing at R78.8bn, slightly up from R77.1bn as compared to last year.
The Bank’s total assets grew by 1% to R83.7bn, with the total development asset book increasing by 2% to R78.8bn. It said the debt/equity ratio of 158 percent remained well below
- BUSINESS REPORT