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Coastal SME community get on-the-go retail banking services

Coastal SME community get on-the-go retail banking services

Nedbank Namibia recently launched its SME Banking service to members of the coastal business community in Walvis Bay.

This follows the launch of the SME Banking service to the Windhoek business community under a year ago where it was also announced that well-known businesswoman Twapewa Kadhikua is the ambassador.

Just under a year ago, on 26 July 2016 in fact, I had the honour of launching Nedbank Namibia’s SME Banking services in Windhoek. And now a year later, as we reflect back to everything that has been happening in between, I can say with great confidence that we have come a long, long way. The world around us has been changing, the economy seems to be looking completely different from one day to the next, and the political arena seems to be changing at the same rapid pace. Some things remain constant, though. Things like the entrepreneurial spirit that is an intrinsic part of the Namibian fabric,” said Bertus Matthee, Nedbank’s Executive: Retail & Business Banking.

Matthee highlighted that SMEs are important for they create employment, generate income and improve people’s standard of living, which is in line with Nedbank’s commitment to use their financial expertise to do good for individuals, families, businesses and society.

Our SME offering is firmly aimed at providing services that address more than just banking. Internally, we aligned policy, process and our service model to ensure that we provide a holistic banking offering that is delivered according to specific business needs. To this end, we have specialist SME bankers in each of our branches countrywide, who understand this important segment of our economy and all its intricate requirements. Furthermore, many of our market-leading solutions in the payments space, like our uniquely innovative PocketPOS solution, are perfectly suited for the SME market,” he said.

Meanwhile, the Governor of the Erongo Region, Cleophas Mutjavikua, applauded Nedbank for the creation of a dedicated Small and Medium Enterprise (SME) Division that not only provides a range of comprehensive products and services, but will also assist SME’s to access finance.

You will all agree with me that access to finance, particularly bank financing is a crucial element in the development of the SME sector, given the relative importance of the banking sector in serving this segment. As in most parts of the country, the SME sector in Erongo forms a significant part of the economic activities. Nevertheless, they face a number of challenges, including limited access to finance from financial institutions. That is why the Nedbank SME Customer Value Proposition (CVP) is not only very important for SMEs, but also important for the Government and all other stakeholders in the SME sector,” said Mutjavikua.

In response, Nedbank’s Matthee outlined that Nedbank’s position towards the Small Business Services offering resonates perfectly with Government’s view of the importance of the SME sector to Namibia’s national economy.

It is precisely this resolve that has prompted us to do some introspection and focus, in particular, on how we can assist our clients to create value for themselves, their families, and ultimately the economy of our country. So our new brand pay-off line, “See Money Differently”, is the consequence of our introspection. Whether we see money as a currency or a commodity, it represents value that can unlock potential, when managed well. Where others see a street vendor, Nedbank sees a person who uses her client engagement skills to provide an income for her family. We see an entrepreneur, who dreams of owning her own chain store one day and empower others to look after their own families, too,” said Matthews.

Visit any of our branches countrywide and open a conversation with Nedbank on how best we can enable you to achieve your financial goals. The journey that is culminating in this launch has been one during which we have challenged ourselves to come up with that singular, defining solution for the SME sector. And it is a solution that I am proud to put my personal stamp of approval on,” said Matthee

About The Author

Freeman Ngulu

Freeman Ngulu is an Entrepreneur, into data journalism and is an aspiring content marketer. He tweets @hobameteorite.

Following reverse listing, public can now acquire shareholding in Paratus Namibia

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20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.