SME Bank to branch out to Zambezi soon

26 May 2016 16:30pm
KATIMA MULILO, 26 MAY (NAMPA) – Following a high interest shown to access their commercial banking services at Katima Mulilo, the SME Bank will soon start opening up accounts for Zambezi regional residents.
This was confirmed by SME Rundu branch manager, Fritz Horaeb, on Monday.
Horaeb told Nampa that during an information sharing session organised by the Namibia Chamber of Commerce and Industry (NCCI), the business community members and locals here indicated they would be interested to access Small and Medium Enterprises (SME) banking services.
Currently, there are only two commercial banks in Katima Mulilo, with limited Automatic Teller Machines (ATM) accessed by over 90 000 residents, including tourists that visit the region.
“This is why we will maybe start out by visiting the town and opening up accounts for clients. All this will for now be processed in Rundu. When we have gathered a desired number of clients, we will then put up ATM facilities around the town, and start with possible plans to open up a branch,” Horaeb said.
Rundu, in Kavango East, is located over 500 kilometres from the Zambezi region, however, Horaeb said this will not deter plans as the bank aims to open branches in all 14 regions of the country in order to reach out to emerging and current SMEs within towns and rural areas.
According to Horaeb, the bank provides reasonable charges on personal banking, corporate banking, and treasury and investment management services for small and medium-sized enterprises, rural communities, micro-enterprises and the previously disadvantaged.
Horaeb added that the bank will start by promoting their products to NCCI members. NCCI is the leading business representative and support organisation in Namibia, with over 2 500 members from different economic sectors, which include large companies and SMEs.
“We cannot set up stalls along the streets and start marketing our products, so we will first start with getting through to NCCI members and clients, of whom majority will be keen to join because we offer affordable services and banking charges,” said Horaeb.