JOHANNESBURG – The Development Bank of Southern Africa said on Friday it had delivered an encouraging set of results for the year ended March 31, despite the adverse impact of a subdued economy on the demand for infrastructure funding.
Although economic conditions affected the level of disbursements, emerging trends indicated a capacity to deliver far greater high-impact investment, DBSA CEO Patrick Dlamini said.
"The bank’s performance this year was encouraging, considering the difficult economic environment compounded by the governance challenges experienced in the public and private sector alike," he said.
"We achieved unprecedented levels of project approvals as well as commitments and we expect to see many of these come to fruition, as disbursements, in the next financial year and beyond.”
DBSA reported profitability of R3.1 billion for the year, up from R2.28 billion in 2018.