Inkumbi leads Development Bank team to scout for financing deals in Nkurenkuru, Rundu and Katima
A strong team from the Development Bank is in Rundu next week to solicit new deals from both established and budding entrepreneurs in the Kavango and Zambezi regions.
Led by the bank’s Chief Executive, Martin Inkumbi, a team of executives and senior managers will look for new business in SME finance, serviced land, and low-income housing projects. The team will also target local authorities to determine funding needs for alternative electricity generation.
From Monday 15 July to Thursday 18 July 2019, the bank’s team will man its regional office in Rundu to hold discussions and receive applications from business people in Katima Mulilo, Rundu and Nkurenkuru.
As part of the scouting mission, the Development Bank will hold three information sessions for SMEs and larger enterprises looking for finance. The first will be in Katima Mulilo at 17:00 on 15 July at Marriot Zambezi River Lodge. The second will be in Rundu at 17:00 on 17 July in the Kavango East Auditorium on Maria Mwengere Street and the third in Nkurenkuru at 18:00 on 18 July in Pahukeni Pension Hotel.
The bank said in a statement it sees much potential in the three north-eastern growth centres. Among the financing options, the bank will also offer start-up finance for registered businesses, as well as finance for commercial property.
The bank expects Nkurenkuru, the capital of Kavango West to grow on the basis of its status as an administrative centre. Although small, the town will attract additional residents, as its administrative function gathers impetus. This will increase demand for serviced land and affordable housing, as well as SMEs to provide for the needs of its residents.
Katima Mulilo is expected to grow on the basis of tourism as well as its role as a transport and logistics hub to landlocked neighbouring countries.
In terms of SME finance, Inkumbi said the bank may consider to offer finance in unproclaimed areas, provided that collateral can be offered in a proclaimed township.
As a part of its programme in the regions, the team will also meet key players in the electricity sector. The new Modified Single Buyer (MSB) Market Framework, allows entities such as local authorities, PPPs and enterprises to generate their own electricity and sell it into the national grid. The bank will also offer finance for transmission, distribution and bulk reticulation to distribute energy to households and enterprises.