DBN to finance for infrastructures and enterprises
The Development Bank of Namibia (DBN) has announced that it is visiting the Kunene Region from 22 August to 24 August to raise awareness of its financing opportunities.
The visit will be led by DBN CEO Martin Inkumbi. Talking about the visit, Inkumbi said that networking events will be conducted to inform potential borrowers on the Bank’s products and requirements for finance.
Inkumbi said that the Bank has taken note of the Kunene Region’s drive for development, and that the Bank is undertaking the visit with the aim of providing finance support to enterprises and local and regional authorities.
He went on to say that the region is in an excellent position to further develop itself. He cited a need for development of roads, as well as power infrastructure to reach the region’s community. In terms of enterprise, he added that the Bank believes that there is room for growth particularly in tourism, but that it is also promoting itself to new enterprises which projects an annual turnover of more than N$10 million, and existing enterprises seeking to expand.
He also said that the Bank is providing finance for serviced land, and that this will be prioritised for local authorities in Kunene as well.
Since its inception, the Bank has allocated more than N$76 million in finance to the region. Approximately 68 per cent of this was allocated to construction and approximately 20 per cent to the hotels and restaurants sector. The Bank has also provided finance to small-scale manufacturers and miners, real estate and business services, and wholesale, retail trade and repairs.
Inkumbi added that the Bank is aware that the use its finance is subject to regional demand, however visits to regions are seen as key to stimulating demand. He concluded by saying that he hopes there will be notable growth in demand from the Kunene Region as a result of the visit, and urged entrepreneurs and local authorities to find out more about the Bank’s products.
Networking events will be held in Khorixas on 22 August at 11h30 in the Town Council Chambers, in Outjo on 23 August from 10h30 at Etotongwe Lodge and in Opuwo and on 24 August from 14h30 in the Ministry of Gender Hall.