In an era that seeks to propel small and medium-sized enterprises (SMEs) to the forefront of economic recovery, Nedbank Namibia and the Namibia Investment Promotion and Development Board (NIPDB) yesterday solidified a blossoming partnership. 

Nedbank Namibia’s head of SMEs, Sam Ikela, said the bank believes that integrating SMEs into the mainstream economy is crucial for domestic economic recovery.

This corporate ethos is crystallised in the bank’s robust support for SMEs, offering loans from N$50 000 to N$10 million, and is further amplified through the sponsorship of NIPDB’s High Potential Pool. 

This innovative programme under the Know2Grow umbrella aims to expedite the growth trajectory of promising, export-ready micro and small businesses through international business linkages, trade missions and international trade fairs, coaching and mentoring and product testing, product certification and licensing, business model and process improvement where required.

The High Potential Pool offers qualifying members an invaluable package of opportunities for 36 months. For this initiative, Nedbank has pledged a sponsorship of N$100 000.

 “Through the High Potential Pool, the NIPDB aims to contribute towards the creation of a pool of MSMEs that are future-focused, resilient and playing an integral part in driving Namibia’s economy forward,” said Dino Ballotti, NIPDB’s Executive Director for MSME Development, Innovation and Acceleration.

NIPDB’s ambitious target is to empower 3 000 MSMEs by the end of this year. This collaboration with Nedbank forms an integral part of that vision, offering entrepreneurs tools to grow their business and extend their influence across the MSME sector. 

Currently, the High Potential Pool consists of approximately 60 MSMEs from across the country, representing various sectors, including cosmetology, food processing and manufacturing.