NEDBANK Namibia has rolled out a new small and medium enterprises (SME) division to all their branches across the country.
The SME division was introduced last year and aims to empower SME’s by providing them with financial loans so that they can finance their operations and maintain progress.
The initiative also equips aspiring SME owners with skills, including finance management and marketing, among many other topics. There is also a SME banker in each of their branches in Namibia.
SMEs qualify for a loan of N$100 000 as start-up capital, which is repayable over a five or 15 year period.
Nedbank’s managing director, Lionel Mathews, said in a statement, “that the banks service model is to ensure that we provide a holistic banking experience that caters to specific business needs and to offer more than just banking”.
He went onto to said SME development is a tool to achieve Vision 2030, thus needs serious support. “Let us be serious as citizens of this country if we want to arrest poverty,” Mutjavikua said.
He said when the bank gives out loans, they should monitor the progress of those who take out the loans.
Also speaking at the event was Nedbank SME ambassador, businesswoman Twapewa Kadhikwa, who said SMEs are the backbone of the economy. She said unlike the government and big companies, SMEs are the backbone of the economy.
She said unlike the government and big companies, SMEs create jobs fast and easily. Empowering them is thus a wise choice. She also encouraged entrepreneurs to adopt a mindset of seeing opportunities instead of challenges.
Nedbank SME ambassador Twapewa Kadhikwa said, “Namibian business people should build businesses which can be carried on by younger generations so that the economy can remain powerful.