WINDHOEK, Nov. 6 — Namibia’s central bank, the Bank of Namibia, has penned a memorandum of agreement with the Development Bank of Namibia (DBN) that will operationalize the government’s financing strategy for small and medium-sized enterprises in a bid to drive economic growth.
A joint statement by the Namibian central bank governor Ipumbu Shiimi and DBN Chief Executive Officer Martin Inkumbi said the SME financing strategy signed Tuesday is aimed at addressing limited access to finance and support services for SMEs in Namibia.
“Approved by Cabinet, the Strategy comprises of three interlinked facilities namely, Mentoring and Coaching Programme, Credit Guarantee Scheme and the Venture Capital Fund. These facilities are complimentary as they serve SMEs at different stages of growth and maturity.” the statement said. – XINHUA