By Emma Kakololo WINDHOEK Development Bank of Namibia (DBN) funded projects have created 1ÃÆ’Æ‘ÀÃ…ÃÆ”šÃ‚ 933 jobs since the beginning of March this year. Of the 1ÃÆ’Æ‘ÀÃ…ÃÆ”šÃ‚ 933 jobs created by the 14 projects approved during the period, 332 were permanent and 1ÃÆ’Æ‘ÀÃ…ÃÆ”šÃ‚ 601 temporary, while N$234,4 million was injected into the projects. DNB is processing loans worth N$193,5 million, which will create and retain about 1ÃÆ’Æ‘ÀÃ…ÃÆ”šÃ‚ 988 jobs. So far, one of the largest employers among the small and medium scale enterprises (SMEs) given DBN support is I-S Airfreight & Road Services. It employs 37 full-time staff, a number which is set to increase to 45 next year. I-S Airfreight & Road Services specialises in overnight, two-day and three- to four-day economy road transport to and from Johannesburg, Cape Town and Windhoek, as well as overnight road freight between Windhoek, Walvis Bay and Swakopmund. The company received N$3,5 million from DBN. It has since outgrown its premises in Prosperita and bought a new plot and truck to expand its operations. Other SMEs that benefited from DBN funding are Roama Gates Manufacturers (N$2 million), Indige-nous Constructions (N$5 million), L. Goliath Construction & Civil Works (N$988ÃÆ’Æ‘ÀÃ…ÃÆ”šÃ‚ 902), M. Shikongo Investments (N$250ÃÆ’Æ‘ÀÃ…ÃÆ”šÃ‚ 000), Omkumo Construction (N$500ÃÆ’Æ‘ÀÃ…ÃÆ”šÃ‚ 000), Bojashwi Construction (N$500ÃÆ’Æ‘ÀÃ…ÃÆ”šÃ‚ 000), Karukongo Building Contractors (N$500ÃÆ’Æ‘ÀÃ…ÃÆ”šÃ‚ 000) and Kamuku Enterprises (N$250ÃÆ’Æ‘ÀÃ…ÃÆ”šÃ‚ 000). In addition, DBN in April this year introduced a preference share facility to cater for those businesses where debt funding might not be the best option. These companies are Oshikango Plastics (Pty) Ltd and Ongwediva MediPark, which received N$4,9 million and N$6,5 million respectively. DBN’s acting Chief Operations Officer, Gottlieb Hinda, who spoke on behalf of the Bank’s Chief Executive Officer, David Nuyoma, yesterday said the preference share arrangement was ideal as it reduces the debt burden on the businesses. “The facility makes it possible for good projects that may have had gearing problems to become viable,” he said. Hinda also announced DBN’s pledge of N$50ÃÆ’Æ‘ÀÃ…ÃÆ”šÃ‚ 000 towards the Polytechnic’s Namibia Business Innovation Hub. “One of DBN’s six core values is ‘innovation’. Through this value, we say that, while we have continuity of purpose, we are always ready to adopt better methods and stop doing what is no longer effective. For this reason and also because of our commitment to advancing enterprise growth, it is a privilege to support the Polytechnic in their effort to realise this most ambitious project.” Rector of the Polytechnic of Namibia, Dr Tjama Tjivikua, commended the bank’s support and appealed to other institutions to emulate DBN. “The Polytechnic is your partner in innovation and we are appealing to all stakeholders, the Government, scholars and businessmen to support the development of the innovation centre.” Before March this year, DBN extended a loan of N$8 million to Zambezi River Lodge, a subsidiary of United Africa Group to refurbish the lodge, N$5,71 million loan to Duiker Investments for the purchase of radiography equipment to set up a medical imaging practice in the North and N$6,5 million to Ongwediva MediPark.