15 Aug 2014 18:20pm
WINDHOEK, 15 AUG (NAMPA) The Development Bank of Namibia (DBN) and Botswana's Citizen Entrepreneurial Development Agency (CEDA) on Friday signed a Memorandum of Understanding (MoU) to share knowledge and experience.
In addition, the institutions will share development impact reports, business sustainability models, and lending and equity investment policies and frameworks.
The two institutions will also cooperate on capacity-building in areas such as due diligence, loan appraisal deal structuring, debt and equity portfolio management, risk management and client relationship support services.
DBN's Chief Executive Officer (CEO) Martin Inkumbi and CEDA's CEO Thabo Thamane signed the five-year cooperation agreement, effective as of Friday this week.
Inkumbi said the MoU will assist both institutions in building capacity through sharing of knowledge.
He said CEDA's mandate corresponds with the mandate of DBN, and sharing knowledge and experience would strengthen the capacity of both institutions.
Both Namibia and Botswana have a high degree of reliance on primary and tertiary sectors of their respective economies. However, Botswana had made strides in manufacturing, and the DBN hopes to draw on CEDA's experience of finance in this field, he said.
On his part, Thamane said although development financial institutions develop their own models based on their capacity and footprints, sharing of insights is particularly important, as these are hard won, take time to develop and can have a substantial impact on development.
CEDA was established by the Government of Botswana in 2001 to provide financial and technical support for business development with a view to promote viable and sustainable citizen-owned business enterprises.
Established by the Namibian Government, the DBN provides finance for viable enterprises and sustainable initiatives which contribute to the development of Namibia.