IPBF launches development fund

20 Mar 2014 11:40am
WINDHOEK, 20 MAR (NAMPA) - The Indigenous People’s Business Forum (IPBF) on Wednesday launched its Indigenous Development Fund, which will focus on Small and Medium Enterprise (SME) financing.
The fund will provide loans to IPBF members, SMEs, as well youth-driven and rural community businesses, and those owned by women.
Speaking at the launch, the fund’s administrator Elvis Katuuo said the Indigenous Development Fund will issue credit and bank guarantees to SMEs who do not have enough collateral to receive bank investment projects or supplement their current assets.
The fund will also provide equity investments through its investment portfolio, and will further provide IPBF members with access to financing.
“It is common knowledge that one of the challenges faced by SMEs to date is the collateral requirement from prospective financial capital providers,” he explained.
Commercial viability and sound management of the business form the basis of the fund’s evaluation criteria.
The IPBF provides mentorship programmes for its members for tasks such as company registration and funding facilitation for SMEs, and also generally acts as “an eye for growth for small businesses” to venture into the corporate world.
With over 1000 paid-up members, the IPBF was created as a Small and Medium Enterprise empowerment agency, specifically focusing on previously disadvantaged Namibians.