Nedbank avails N$100,000 for MSM enterprise development
Nedbank Namibia sponsored N$100,000 to supercharge Micro, Small and Medium (MSM) enterprises to the forefront of economic recovery.
By sponsoring the Namibia Investment Promotion and Development Board’s (NIPDB) High Potential Pool initiative, the bank said it confirms its commitment to foster MSM enterprise development in the country.
Head of MSM enterprises at Nedbank, Sam Ikela said they firmly believe that integrating MSM enterprises into the mainstream economy is crucial for the country’s economic recovery.
“The High Potential Pool offers qualifying members an invaluable package of opportunities for 36 months and we have pledged this N$100,000 sponsorship to the High Potential Pool,” he added.
He explained that this corporate ethos is crystallized in their support of MSM enterprises, offering loans from N$50,000 to N$10 million.
“This innovative programme under the Know2Grow umbrella expedites the growth of promising, export-ready micro, small and medium businesses through international business linkages, trade missions, international trade fairs, coaching and mentoring, product testing, product certification and licensing, business modelingl and process improvement where required,” he added.
Executive Director for MSM Enterprise Development, Innovation, and Acceleration at the investment board, Dino Ballotti said through the High Potential Pool they aim to contribute to the creation of a pool of MSM enterprises that are future-focused, resilient, and playing an integral part in driving Namibia’s economy forward.
“Our ambitious target is to empower 3000 MSM enterprises by the end of the year and this collaboration with Nedbank forms an important part of that vision, offering entrepreneurs the tools to grow their business and extend their influence across the MSM enterprise sector,” he added.
He said that currently, the Pool consists of approximately 60 MSM enterprises from across the country, representing various sectors like cosmetics, food processing and manufacturing, amongst others.
