Clear signal on northern development finance
Development Bank of Namibia encourages familiarisation at Ongwediva Trade Fair
Development Bank of Namibia (DBN) Communication Officer Jerome Mutumba has called on entrepreneurs, and local authorities who are developing infrastructure, to visit or make contact with the Bank during the Ongwediva Trade Fair from 21 to 29 August 2015.
He said the Bank is aware that applicants for finance often have constraints on time, and may not be able to visit the Bank's offices during the year, however a visit to the popular show is an excellent opportunity to visit the Bank's stand, and find out how to apply for finance, or discuss suitability of business plans.
Mutumba said the northern regions, particularly Omusati, Oshana, Ohangwena and Oshikoto, hold exceptional opportunities for entrepreneurs. He noted that manufacturing, transport and logistics, and tourism are particular fields of interest for the Bank.
He said that on the basis of the high population density, manufacturing for consumption within the four regions, can be stimulated. He also said that the Bank has a particular interest in agri-manufacturing to stimulate agriculture, and noted that the Bank has provided finance for operations such as milling, that make rural communal agriculture more sustainable.
Mutumba went on to say that, based on local consumer needs, as well as the potential for trade in goods with southern Angola, the Bank is also seeking opportunities to stimulate other forms of manufacturing. He said that intra-regional and cross border trade will also stimulate growth of the transport and logistics sector.
Talking about tourism, Mutumba said that there is potential for growth in the number of accommodation establishments catering to business and international tourism, and also potential for cultural tourism in the international markets.
On the topic of infrastructure development, Mutumba said that there is a clear need for affordable residential land, and that water distribution infrastructure is also viewed as pressing by the Bank. He noted that the Bank is continually engaged in provision of finance for local authorities in the central northern regions, but encouraged local authorities who have not yet familiarised themselves with the Bank to make use of the Ongwediva Trade Fair to do so.
Mutumba concluded by saying that the Bank perceives the spread of economic activity and growth of infrastructure across all of Namibia's regions to be critical for inclusive economic development, and repeated his call for entrepreneurs and local authorities to make the best use of the opportunity of the Ongwediva Trade Fair to familiarise themselves with DBN.