SBN acknowledges SMEs

16 Jul 2013 10:00


Standard Bank Namibia recently acknowledged top performing small and medium enterprises (SMEs) at a board luncheon held on 3 July 2013 in Windhoek.

Standard Bank Namibia through the Namibian Bankers Association is a signatory to the Namibian Financial Sector Charter.

It is for this reason that Standard Bank Namibia is committed to achieving full compliance with the minimum targets for 2014 and 2019 as set out in the Charter and currently stands at 61% compliance to the Charter.

“One of the pillars under the Charter is SME development which we strongly believe will increasingly contribute towards the strengthening of the economy of Namibia,” said Standard Bank Namibia’s Chief Executive Mpumzi Pupuma.

Pupuma said additional projects over the next year will be ongoing educational workshops for approximately 40 new SMEs to train them around business and financial management as part of the bank’s contribution to develop and build a sustainable business.

“Within the bank, we also embarked on extensive training programs for our own people in particular looking after SMEs ensuring that we assist and advise new SMEs with regard to their business and financial needs,” he said.

Total loans disbursed for BEE Small and Medium Enterprises amounts to N$43m for the past year which constitutes 2, 52% of total business loans.