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Transport and logistics dominate Innovation Awards

The Minister of Finance, Hon. Saara Kuugongelwa-Amadhila, officiated over the DBN Good Business Awards and Innovation Award for 2014. Pictured above, DBN Board Member Albie Basson presents her with a bouquet of flowers to show the bank’s gratitude.

The Minister of Finance, Hon. Saara Kuugongelwa-Amadhila, officiated over the DBN Good Business Awards and Innovation Award for 2014. Pictured above, DBN Board Member Albie Basson presents her with a bouquet of flowers to show the bank’s gratitude.

Development Bank of Namibia (DBN) announced the winners of the Good Business Awards and Innovation Award at an event held in Windhoek last week.
The winners of the several Awards were all from the transport and logistics sector, with the Innovation Award going to a financial product related to the transport sector.
The Innovation Award was won by Namib Industrial Group’s product ‘Eenda Nawa – Go Safe’ while the runners-up were Smart Solutions and Malakia Tyre Recycling.
The winner in the category of Large Enterprise was scooped by The Six Thousand Transport CC while Tungeni Africa Investments and J&A Popular Inn were runners-up in the large enterprise category.
In the category for SMEs, Raino’s Trucks, a company that specialises in repairs of trucks and delivery vehicles emerged as winners, while Olupembana Bricks and Okozozepa Investments received certificates of merit as runners-up.

At the awards, the Minister of Finance, Hon. Saara Kuugongelwa-Amadhila said innovation is a route to financial inclusiveness, but that in some cases the existing financial services infrastructure can be a barrier to innovation.
Kuugongelwa-Amadhila said that Namibia needs to ensure that regulatory frameworks and supervisory practices give sufficient space to encourage competition and innovation to promote formal financial sector participation by individuals and SMEs.
DBN Board Member, Albie Basson, said innovation is sometimes not given the space that it needs to thrive as it is seen as a risk to capital preservation because the ideas are most likely untried and untested. He said that, through the Innovation Award, DBN is seeking to unlock the potential gains of innovation.

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