Windhoek
The SME Bank has assisted 353 entrepreneurs with business loans and other related services since it opened its doors for business in Windhoek after the Bank of Namibia granted its banking license in 2012 to focus on the emerging Small Medium Enterprise (SME) sector.
SME Bank was established by the government following the dissolution of the Small Business Credit Guarantee Trust (SBCGT), that was transformed into a fully-fledged commercial banking institution.
According to the Ministry of Industrialisation, Trade and SME Development’s 2015/16 annual report, 895 SMEs with an allocated resource envelope of N$36.2 million countrywide were assisted with production equipment and machinery.
In addition, the report indicates that 177 entrepreneurs were backed with entrepreneurial training, workshops, as well as mentorship services. Nine others were supported with feasibility studies and six with business plans.
With the head office in Windhoek, SME Bank plans in the near future to open branches in all 14 regions of the country. The bank has a full commercial banking license and offers banking services to individuals and companies that are not necessarily SMEs, through its personal banking (retail), corporate banking, and treasury and investment management divisions.
Furthermore, the report says the ministry procured and provided production equipment and machinery to 431 SMEs in 14 regions for N$28 million.
The ministry is mandated to promote industrialisation through the development of Micro, Small and Medium Enterprises (MSMEs) in Namibia. In doing so, several support programmes, such as the Equipment Aid Scheme (EAS), were introduced to assist MSMEs involved in manufacturing and value addition activities with equipment and machinery.
The report says Khomas Region benefited the most, with equipment aid purchased for over N$5 million, as it had the most applications approved. Erongo followed with 46 SMEs, who received equipment worth N$3.9 million, while in Otjozondjupa 41 SMEs received equipment worth N$2.8 million.
The report reveals that 40 SMEs from Ohangwena benefited from the equipment scheme, worth N$2.8 million, followed by both Kavango West and East, where 34 upcoming entrepreneurs received machinery worth N$1.4 million.
It further showed that an extra 34 SMEs from Oshana received equipment worth N$2.4 million, while 34 young entrepreneurs from Omusati received machinery valued at N$1.9 million.
In the Kunene, equipment worth N$1.4 million was handed to 34 SMEs, while Hardap and Omaheke got 28 pieces of machinery each, worth N$2.2 million and N$1.5 million respectively.
The report also indicates that 23 emerging businesses at Oshikoto received machinery valued at N$1.9 million, whereas 24 SMEs from Zambezi got equipment worth N$1.5 million and 18 in //Karas Region received machinery worth N$2.2 million.