DBN offers finance in Kavango East & West, Zambezi

WINDHOEK, JULY 9 – The Development Bank of Namibia (DBN) has announced that it will conduct visits to Kavango East, Kavango West and Zambezi, from 15 July 2019 to 18 July 2019. The Bank recently opened an office in Rundu in Kavango West, and the visits are expected to support the activities of the office, with information on how to apply for finance.

The visit, led by CEO Martin Inkumbi, accompanied by a team of executives and senior managers, will focus on SME finance, finance for serviced land and affordable housing projects, local authority finance and electricity generation by local authorities.

Rundu is the second largest centre in Namibia, with a population estimated to be approximately 90,000. According to the Bank, it sees potentially strong demand for finance to enable informal enterprises seeking to graduate to the formal sector, as well as smaller formal enterprises seeking growth. Among the financing options, the Bank will also offer start-up finance for registered businesses, as well as finance for commercial property.

The Bank expects Nkurenkuru, now the capital of Kavango West to grow on the basis of its status as an administrative centre. Although small, the town will attract additional residents, as its administrative function gathers impetus. This will increase demand for serviced land and affordable housing, as well as SMEs to provide for the needs of its residents.

Katima Mulilo is expected to grow on the basis of tourism, as well as due to its role as a transport and logistics hub to the SADC. The Bank has also identified SMEs as an important component of Katima Mulilo’s economic development.

In terms of SME finance, DBN has stated that it may offer finance in unproclaimed areas, provided that collateral can be offered outside of the unproclaimed area.

The Bank is offering a comprehensive suite of financing products for land servicing and affordable housing to local authorities, public private partnerships (PPPs) and private sector developers. DBN also offers finance to contractors engaged in servicing of land and construction of affordable housing.

As a part of its programme in the regions, DBN will meet with key players in the electricity sector. The new Modified Single Buyer (MSB) Market Framework, allows entities such as local authorities, PPPs and enterprises to generate their own electricity and on-sell it. The Bank will also offer finance for transmission, distribution and bulk reticulation to distribute energy to households and enterprises.

The Bank will hold three information sessions for SMEs and larger enterprises seeking to apply for finance. The first will be in Katima Mulilo at 17h00 on 15 July at Marriot Zambezi River Lodge. The second will be in Rundu at 17h00 on 17 July 2019 in the Kavango East Auditorium on Maria Mwengere Street. The third information session will take place in Nkurenkuru at 18h00 on 18 July 2019 in Pahukeni Pension Hotel. – NDN Staffer