27 Jun 2013 06:00
WINDHOEK, 27 JUN (NAMPA) ? The entry process for the Development Bank of Namibia (DBN)?s Good Business Awards 2013, which recognise business excellence that contributes to Namibia?s development, opened on Wednesday.
The opening of the entry process was announced by the DBN's acting Chief Executive Officer, Martin Inkumbi in the capital.
A media statement issued to Nampa on Thursday said the awards are scheduled to take place towards the end of September this year.
?Our intent is to showcase the qualities of good business, and how it can be good for development. The assessment process highlights those factors you would expect from a business that is good for development, but the assessment also highlights good business governance and administration, as well as long-term viability,? Inkumbi was quoted as saying in the statement.
Also quoted in the statement was DBN Chairperson Elize Angula, who said companies that enter, and those that win, fulfil the bank's mandate.
?Our mandate is to promote sustainable enterprise: development that supports itself. Finance provided by DBN is the seed which starts or strengthens these enterprises. As they grow, they are able to repay their loan, profit and provide the developmental benefits which Namibia needs. This is the best kind of development there is,? Angula said.
She added that by showcasing these enterprises, the bank shows Namibia the remarkable home-grown successes that are possible, and hope to win support for these enterprises.
?We also hope enterprises and aspiring entrepreneurs will learn that obstacles are brushed aside with Namibian ingenuity and good business practices,? Angula stressed.
The statement further said the winner of last year?s Good Business Awards? Small and Medium Enterprise (SME) category, Karakulia Weavers, was selected for the persistence with which owner Moses Helao worked his way up through the business, to the point where DBN was able to finance his acquisition of the business.
The winner of the 2012 larger enterprise category, the International University of Management (IUM), was selected for its vision ?which propelled the enterprise to become a leading private tertiary institution, fulfilling Namibia's need for skilled graduates?, the statement read.
The winner in the sustainability category was NamPost Savings Bank.
?Through its acquisition of a 50 per cent shareholding in SmartSwitch Namibia, with the help of DBN Finance, it was able to reduce the proportion of unbanked individuals in Namibia from 50 per cent to 30 per cent,? it said.
The 2012 sustainability category for enterprises that have fully repaid DBN finance will not be repeated this year.
?We used the 2012 sustainability category to recognise exceptional enterprises that repaid their loans prior to the 2012 entries, but are switching to recognising all clients on an ongoing basis,? Inkumbi explained.