IPBF launches development fund
20 Mar 2014 11:40am
WINDHOEK, 20 MAR (NAMPA) - The Indigenous Peoples Business Forum (IPBF) on Wednesday launched its Indigenous Development Fund, which will focus on Small and Medium Enterprise (SME) financing.
The fund will provide loans to IPBF members, SMEs, as well youth-driven and rural community businesses, and those owned by women.
Speaking at the launch, the funds administrator Elvis Katuuo said the Indigenous Development Fund will issue credit and bank guarantees to SMEs who do not have enough collateral to receive bank investment projects or supplement their current assets.
The fund will also provide equity investments through its investment portfolio, and will further provide IPBF members with access to financing.
It is common knowledge that one of the challenges faced by SMEs to date is the collateral requirement from prospective financial capital providers, he explained.
Commercial viability and sound management of the business form the basis of the funds evaluation criteria.
The IPBF provides mentorship programmes for its members for tasks such as company registration and funding facilitation for SMEs, and also generally acts as an eye for growth for small businesses to venture into the corporate world.
With over 1000 paid-up members, the IPBF was created as a Small and Medium Enterprise empowerment agency, specifically focusing on previously disadvantaged Namibians.