Namibia’s SME Bank, which was founded by the government in 2012, has reported that 5 000 clients have made deposits and approximately 1 000 have applied for loans during its 16 months of operations.The value of the bank is now estimated at N$40 million and the institution is set to soon receive N$630 million in non-reimbursable funding from government to expand its operations to all 14 regions of the country, with the intention of fueling growth among small and medium-sized enterprises.It provides personal banking, corporate banking, and treasury and investment management services for small and medium-sized enterprises, rural communities, micro-enterprises and the previously disadvantaged.This week New Era’s Senior Business Reporter, Edgar Brandt, had a one-on-one interview with the CEO of the bank Tawanda Mumvuma about the services offered by the bank and its expansion.
Articles
Namibia’s SME Bank
Jul 25, 2014