Usakos Service Station Under New Management

WHEN the owner of Usakos Service Station decided to sell the enterprise and pursue other commercial avenues, Irene Kurz-Simeon saw an exceptional opportunity. With the help of the Development Bank of Namibia (DBN), she purchased the enterprise.

Born in Usakos, Kurz-Simeon immediately understood the potential of the business, as well as its role in the economy of the town. The service station is not just popular with motorists along the road to the coast, but is also an integral part of the lives of the residents of Usakos. In addition to the revenue from fuel, the business of the service station includes a successful baker and butchery, and the town’s only 24 hour convenience store. The business is further bolstered by rental income from a retail clothing store.

Speaking about the financing deal, DBN Head of Lending John Mbango said that the application was complex as ownership of a number of entities, as well as the interest of the fuel company, had to be considered. He said the experience gained on the deal was valuable to the bank.

Talking about the development value of the enterprise Mbango highlighted a number of factors.

He said Usakos Service Station is a significant employer in the town and that Kurz-Simeon could increase the number of employment opportunities substantially with additional development of the enterprise.

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Source : The Namibian