Inkumbi pleased with entrepreneur turn-out for DBN information sessions

The Development Bank of Namibia (DBN) held information sessions from Wednesday to Thursday in Rundu and Nkurenkuru on how to apply for finance with the bank.

The information sessions focused on Small and Medium Enterprise (SME) finance, finance for serviced land and affordable housing projects, local authority finance and electricity generation by local authorities.

Chief Executive Officer (CEO) Martin Inkumbi told Nampa on Thursday he was very happy with the turnout of entrepreneurs from the towns.

The majority of the entrepreneurs who came were from the Small and Medium Enterprises sector (SME's), Inkumbi said.

The CEO said mostly the entrepreneurs wanted to know whether the bank can finance projects set up in rural areas where the land is not proclaimed.

Others he said wanted to know how to access finance especially in terms of the bank's collateral requirements.

Inkumbi said it was also important for DBN to inform the entrepreneurs that the bank has an office in Rundu and that it would now be cheaper for them to access finance via the Rundu office than traveling long distances to Windhoek.

He said the bank also observed that the uptake of loans from the two regions have not really been at the level that they would want and that they would like to see more entrepreneurs approaching the bank.

Inkumbi said the uptake of loans in Rundu is higher than in Kavango West Region as Rundu has more business activities whereas Kavango West is 90 percent rural.

As the town becomes a stronger commercial center with strong commercial activities than the demand for financial capital will start to expand, he said.

Inkumbi said he is optimistic that with time the two Kavango regions will grow and the bank will see demand for more financial capital.

Among the financing options, the bank will also offer start-up finance for registered businesses, as well as finance for commercial property.

Source: Namibia Press Agency