Windhoek
The Development Bank of Namibia (DBN) announced the winners of the fourth annual Good Business and Innovation Awards at an event at the Safari Convention Centre in Windhoek on October 7. The Deputy Minister of State Owned Enterprises, Engel Nawatiseb, delivered the keynote address and handed the awards to the recipients.
MeatCo the overall winner in the Large Enterprise category
Following veterinary restrictions imposed by South Africa on the import of weaners, the Namibian beef production sector was in a depressed condition. Vulnerability to restrictions indicated over-dependence of the sector on exports of weaners to South Africa. To address the shortcoming of weaner production as a major agriculture activity, Meatco received financing to add value to beef by purchasing weaners from local farmers and raising them to slaughterable cattle on feedlots.
DBN finance was used to develop feedlots and procure cattle from farmers. In the process, an additional 538 direct jobs were created, and satellite feedlots were established at Otavi and Gobabis, providing additional opportunities for farmers to sell cattle. Talking about the award, DBN CEO Martin Inkumbi noted that although direct investment in agriculture is not within the scope of DBN’s operations, further processing in the agri-industry – particularly packaged beef cuts to be produced and exported by Meatco – falls within the bank’s mandate as food manufacturing.
Certificates of Merit were presented to WordPress Namibia and Namclay Bricks and Pavers. WordPress Namibia is a start-up print manufacturer that prints high-volume runs of newspapers, as well as supplements that were previously printed in South Africa. Namclay Bricks and Pavers manufactures building material from the clay left over from mining operations at Uis.
Magnet Bureau de Change awarded Best SME
Magnet Bureau de Change received financing to establish new branches in various Namibian centres, including Keetmanshoop, Ondangwa and Rundu. The company previously used DBN finance to open the business in 2011, and to expand to Hosea Kutako International Airport in 2012. Commenting on the award, Inkumbi said the bank aimed at a transformative effect on the banking system as one of its goals.
He highlighted the bank’s role in expanding access to banking through Nampost Savings Bank, a former Good Business Award Winner. He said one of the bank’s goals in the sector is to increase local ownership of financial holdings. Magnet Bureau de Change, wholly-owned by a Namibian woman, fits the bill for ownership by a formerly disadvantaged Namibian, as well as the bank’s focus on the development of women entrepreneurship.
Cottage Village and Kings Service Station were named runners-up in the SME category. Cottage Village used DBN finance to construct a building materials warehouse that stabilises the supply of building material in the recently proclaimed town of Okalongo. Kings Service Station used DBN finance to develop a service station and retail facilities at Ondando village.
Medi-Rad received Innovation Award
The company presented a plan for a mobile mammography unit to be used in screening for breast cancer. Mammography is currently centralised in Windhoek and Swakopmund. By utilising a mobile mammography unit, Medi-Rad will effectively be able to provide mammography services in Tsumeb and Oshikoto without restricting access to those who can travel to fixed premises. Inkumbi said that the bank has a long association with the medical services sector and has financed medical technology and services for other entities.
The concept of mobile mammography services, he said, is one that the bank believes will have an immediate positive impact on women’s health.
Certificates of Merit in the innovation category were awarded to BIA Investments and Oshuulo Trading Enterprises. BIA Investments presented a plan for adding value to mahangu by manufacturing porridge. Oshuulo Trading Enterprises presented a plan for canning locally grown beans.
Inkumbi added that entries were selected by the bank, based on the criteria of the awards – which included enterprise administration, viability, use of local resources, employment and development impact. The nominees were then further rated by a panel of judges consisting of external and internal experts.