DBN approves loans of more than N.dollars 200 million

24 Jul 2013 09:20
WINDHOEK, 24 JUL (NAMPA) – The Development Bank of Namibia (DBN) has approved project loans worth N.dollars 207 million in the second quarter of this year.
The second quarter started in April, and ended in June.
Speaking during a media briefing here on Wednesday, DBN's Acting Head of Lending Heike Smith said large enterprises’ loan approvals amounted to N.dollars 131.3 million, and loan approvals to the small and medium enterprises (SMEs) amounted to N.dollars 75.7 million.
“A loan of N.dollars 176.2 million was approved in the tertiary industry; N.dollars 30.8 million in the secondary industry; and no loans were approved in the primary industry,” she noted.
Smith said the sector receiving the highest allocation was the transport and communications’ sector with 34.4 per cent, amounting to N.dollars 71.3 million; followed by the public administration sector with 24.2 per cent, or N.dollars 50 million; and the construction sector with 13.5 per cent, amounting to N.dollars 27.9 million.
Projects in the Erongo Region received the lion's share of approvals, totalling N.dollars 60.3 million, followed by the Oshana Region with N.dollars 58.9 million and the Khomas Region with N.dollars 32.9 million.
Smith said the approvals are projected to affect 2 021 jobs, of which 375 will be new, 567 temporary and 1 079 retained.
In the Oshana Region, a project in the construction sector will be responsible for 55 new, 20 retained and 55 temporary employment opportunities.