Namibia supports its SMEs

Aug 22, 2012

Initiatives to support SMEs are on the rise in Namibia. In the second quarter of 2012, The Development Bank of Namibia (DBN) has lent 5.6 million dollars to local SMEs, Reussir Business reports.

Initiatives to support SMEs are on the rise in Namibia. In the second quarter of 2012, The Development Bank of Namibia (DBN) has lent 5.6 million dollars to local SMEs, Reussir Business reports.

This source of financing has led to the creation of more than 1,200 jobs, one-third of which are permanent positions.

The growth of Namibian SMEs is the result of Bridging Finance, a DBN banking product that offers short-term financing solutions, as well as good faith deposits to entrepreneurs who have secured contracts with established companies or organisations in the public and private sectors.

This month will also see the realisation of a project dating back to 2009: a bank for SMEs only.

The Namibian government will invest eight million euros in the project, following recommendations by the Central Bank, as well as proposing a shareholding structure and well-known administrators.

In addition to these increased financing facilities, the project will also involve the construction of commercial activity zones and the launch of a fair dedicated to SMEs.ADNFCR-2976-ID-801434069-ADNFCR