RMB Namibia Launches New Division

RMB Namibia has launched a full corporate and investment banking division.

The division will work in close cooperation with FNB Namibia and WesBank brands and will be headed by Steve Galloway and Michelle van Wyk.

Some of of the companies funded by RMB recently have included Debmarine Namibia, B2 Gold, Extract Resources, Paladin Energy, Bannerman, Grindrod, Olthaver and List and Wilderness Safari.

“Our ability to pick winners in the mining sector has allowed us to walk the road together on key projects like Langer Heinrich Uranium, Ohorongo Cement, Otjikoto Gold and Husab Uranium,” said Galloway.

He said in the public sector, RMB has funded Air Namibia, Nampower and Telecom Namibia.

Looking at the future, Galloway said RMB was heavily engaged in providing solutions in the infrastructure space where they believed there was a funding gap of N$50 billion to N$60 billion, predominantly in the energy, oil and gas, port, rail and road and water sectors.

“This does not include mega-projects like the TransKalahari Railway. Public- Private Partnerships with Nampower, Namcor, Namport, TransNamib and Namwater are the only way we can bridge this gap, together,” he said.

Galloway said Namibia was becoming widely recognised as a competitive and high growth economy and added that two independent surveys attested to this.

“The African Retail Development Index (ARDI) places Namibia third in Africa, a remarkable achievement for a relatively small economy with only two million people. Secondly, the Canadian Frazer Institute also ranks Namibia third in Africa in respect of resources prospectively, the rating being a combined policy and resource potential indicator,” he said.

Source : The Namibian