Good business awards, again
Development Bank Good Business Award winner, the International University of Management used finance from the Development Bank to establish a new campus with modern facilities. Vice Chancellor, Virginia Namwandi in a state-of-the-art lecture hall, which has enabled the institution to make a dramatic shift in educational quality and spread.
Founded in 1994 by current Vice Chancellor Mrs Virginia Namwandi, and Dr David Namwandi, now Minister of Education, the institution began as an enterprise run from the Namwandi’s home. Student numbers grew rapidly, and IUM approached the bank to finance expanded facilities to absorb the increased intake of students. Finance was allocated to construction of the first phase of its new campus in Windhoek.
On 26 October 2002 IUM obtained University status when it was officially launched by former president, Dr. Sam Nujoma. The university is fully accredited by the Namibia Qualifications Authority (NQA). To date, approximately 4,000 students have passed through the Windhoek campus, and approximately 3,000 are enrolled at other centers around Namibia.
Talking about the recognition given to IUM, Vice Chancellor Namwandi says, “The Good Business Award is, in my opinion, very motivational. People and organisations always appreciate being recognized for their hard work, and it was no different for IUM. As a University whose focus is Management Science, we always endeavour to manage the University processes in an exemplary manner. Our win of the large business category at the 2012 DBN Good Business Awards had a great impact on us as an organization. It sent out a positive message of good corporate governance, which all organizations would like to be lauded for.”
The 2013 Good Business Award calls on all Development Bank clients to enter the competition, in which the merits of the enterprises are adjudicated by a judging panel, and rated based on various key developmental issues Factors of particular note are the number of jobs created or retained, managerial capacity, business administration and contribution to broad based Black Economic Empowerment.
The 2012 keynote speaker, Deputy Minister of Finance Calle Schlettwein said,“By recognising enterprises’ efforts to create lasting jobs and income, adopt good governance practices, and make a positive contribution to Namibia’s economic landscape, the award shows how far Namibian businesses have come and what their impact is on the economy.”
The 2012 Good Business Award was the first of its kind in Namibia, and was well received by all stakeholders. “The Award Ceremony was very well organized. It was an elegant event and showcased the DBN as a bank of choice. The atmosphere was both classy and relaxed. It was a brilliant initiative as it shows that both DBN and Namibia are following global current trends where organizations and individuals get recognized for their achievement,” said Mrs Namwandi of the event.
This year’s awards will take place at the end of September . Entries can be downloaded from the DBN website, www.dbn.com.na. The closing date for entries is 26 August 2013.
