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Development Bank awards best borrowers and innovators

Development Bank awards best borrowers and innovators

WordPress, the printing works that sees the Namibian newspaper gets to the street every morning, is the winner of the Development Bank of Namibia’s Good Business award in the large category.

The flagship award was presented last week Thursday, 14 November, by the Development Bank’s chairperson, Ms Tania Hangula to the company’s Managing Director, Mr Wolfram Jaus.

Runner-up in the Large category is the Ombepo Group who constructed and operates the wind farm near Lüderitz in the Karas region. Ombepo Energy is a venture between InnoSun Energy Holdings and Lüderitz Town Council.

The winner of the innovation award is Pulsar Electronic Solutions, a small company that enables users of its smart metering app to control their electricity consumption using a smartphone. The first runner-up in this category is NamOceanic Kelp Production who manufactures chicken feed from seaweed. In the third spot is Primebiochar, a company that improves water retention in soil by mixing it with a charcoal derivative.

Amongst the smaller borrowers, the winner in the SME category is Ian Shuttle, a commercial shuttle service operator who caters for other companies. Second amongst the SMEs is Blue Box Technology that provides digital retail media, event management and coin operated cellphone charging kiosks with secure lockers. The third SME is Otjiwarongo-based Miiyelo Investment who retails automotive component and provides services to vehicle owners.

Chairperson Hangula said the bank’s main objective is to support economic and social development through the provision of finance and business support to Namibian enterprises. “Long-term business sustainability is important to ensure sustainable economic growth and social progress. Winners of the bank’s large enterprise and SME awards represent this goal. Through the Good Business and Innovation Awards, the bank demonstrates commitment to support Namibian businesses who have demonstrated resilience and a winning attitude,” she said.

The bank’s Chief Executive, Martin Inkumbi said their experience is that innovation is not an instant, overnight phenomenon, but an exacting process of enterprise maturation to the point of bankability.

Economic Adviser to the Minister of Finance, Penda Ithindi, said the Development Bank is a key agency that has supported the creation of 24,000 new jobs and 32,000 temporary jobs since 2004 while approving over N$15 billion development finance for infrastructure and enterprise activities over the 15 years of its existence.

Caption: Chairperson of the Board of the Development Bank of Namibia, Ms Tania Hangula.

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