If I'm seeing correctly there is a crack mid tube in line with the cross bar...
As a TIG welder I'll tell you the repair is relatively easy, the hard part is preventing it from occurring again. The simplest repair is to run a fresh bead along the crack. It will penetrate deep enough to weld the steel all the way through. Using the right amount of amperage and filler rod just one pass is sufficient, then it can be sanded clean and re-polished so you won't even know it happened.
So why is the davit cracked to begin with? Seems the davit isn't able to handle the weight of your Dink and outboard together. I doubt your davit is still under any type of warranty... if it were, and its advertised weight should be able to handle what you are using it for, return it for a refund/replacement with something that can. Otherwise, to prevent this from happening again you'd need some triangulation with gussets or tube to equalize the load. Using a thicker wall tube would have prevented this in the first place.
You're not going to like this part, but you really need to remove the davit from the boat and take it to a welding shop for repair. There are mobile welders that can come to you but that cost will make you go blind for what amounts to 15 minutes of work, and TIG welding outside isn't the best idea.