IPBF launches Indigenous Development Fund, which will focus on SME financing

WINDHOEK: The Indigenous People’s Business Forum (IPBF) yesterday launched its Indigenous Development Fund, which will focus on Small and Medium Enterprise (SME) financing.

The fund will provide loans to IPBF members, SMEs, as well youth-driven and rural community businesses, and those owned by women.

Speaking at the launch, the fund’s administrator Elvis Katuuo said the Indigenous Development Fund will issue credit and bank guarantees to SMEs who do not have enough collateral to receive bank investment projects or supplement their current assets.

The fund will also provide equity investments through its investment portfolio, and will further provide IPBF members with access to financing.

Commercial viability and sound management of the business form the basis of the fund’s evaluation criteria.

The IPBF provides mentorship programmes for its members for tasks such as company registration and funding facilitation for SMEs, and also generally acts as ‘an eye for growth for small businesses’ to venture into the corporate world.

SOURCE: NAMPA