# Development Bank of Southern Africa

Development Bank of Southern Africa is a Bank / Wealth / Trust based in Midrand, South Africa.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** Midrand, South Africa
- **Region:** Africa
- **Address:** Midrand, Gauteng, South Africa
- **Founded:** 1983
- **Assets under management:** Undisclosed
- **Website:** dbsa.org
- **LinkedIn:** https://www.linkedin.com/company/dbsa
- **Wikidata:** Q1206693

## Regulatory record

- **Reports private funds:** No

## About

The Development Bank of Southern Africa is a development finance institution established in 1983 in Midrand, South Africa. It focuses on socio-economic development within the infrastructure sector, primarily serving sectors that require infrastructure development and maintenance. The bank provides financial and non-financial investments for infrastructure project financing in energy, transportation, water supply, and information and communications technology.

## Sectors

- Infrastructure
- Energy Transition & Renewables
- ClimateTech
- Real Estate
- Industrial Tech
- Education
- Healthcare Services

## People

- Boitumelo Mosako — Chief Executive Officer

## Questions

### Who runs investment decisions at the DBSA?

The Chief Executive Officer, Boitumelo Mosako, holds executive authority over the bank's strategy and operations, supported by a Chief Investment Officer and sector heads covering energy, transport, water, and ICT. The Board of Directors, appointed by the shareholder minister, approves large transactions. Day-to-day credit decisions are delegated to investment committees that apply commercial underwriting standards while assessing developmental impact.

### Is the DBSA a development finance institution or a commercial bank?

It is a development finance institution that operates as a wholesale bank — it does not take retail deposits but funds itself through bond issuance and lends to public and private infrastructure projects. Unlike grant-based DFIs, the DBSA generates consistent net profits and maintains an investment-grade credit rating, most recently affirmed at Baa2 by Moody's in March 2024. Its mandate under South African law requires it to prioritize projects that demonstrate both financial viability and developmental impact.

### Which sectors does the DBSA explicitly avoid?

The DBSA does not finance extractive industries or upstream oil and gas exploration, nor does it provide general-purpose corporate lending or working-capital facilities outside of infrastructure contexts. It does not operate consumer lending or retail banking divisions. Its credit policy excludes projects that fail to meet minimum environmental and social governance standards aligned with International Finance Corporation Performance Standards.

### How does the DBSA source deal flow?

As a government-mandated bank with a project-preparation division, the DBSA originates much of its pipeline through partnerships with South African municipalities, state-owned enterprises, and other national governments within the SADC region. It also receives direct applications from private sponsors participating in government procurement programmes, notably the Renewable Energy Independent Power Producer Procurement Programme. The bank's project-preparation arm conducts feasibility studies that frequently lead to financed projects on the balance sheet.

### Does the DBSA co-invest alongside external GPs and commercial lenders?

Yes, the DBSA frequently co-finances alongside commercial banks, multilateral development banks, and institutional investors. In the Redstone CSP project, for instance, it provided senior debt alongside the Industrial Development Corporation, Absa, and Nedbank. The bank's strategy explicitly aims to crowd in private capital, often taking subordinated or mezzanine positions that absorb first-loss risk and improve the risk-return profile for private co-lenders.

### How is the DBSA capitalized and rated?

The DBSA is not tax-funded; it raises capital through domestic and international bond markets, including sustainability-linked instruments listed on the Johannesburg Stock Exchange. Its shareholder is the Government of South Africa, which provides a callable capital guarantee. As of its most recent integrated annual report, total assets stood at approximately ZAR 107 billion, and Moody's affirmed the bank's Baa2 long-term rating with a stable outlook in March 2024.

## Related profiles

- [Development Bank of Mauritius](https://altss.com/profile/development-bank-of-mauritius)
- [Development Bank of Turkey](https://altss.com/profile/development-bank-of-turkey)

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Last updated: 2026-06-03T20:00:00.000Z

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