Good times for SMEs as DBN launches investment centre

March 6, 2018, 4:42pm

SMEs which often have low levels of collateral and high degrees of potential have been provided with a healing shot in the arm by the Development Bank of Namibia which opened an SMEs centre in the capital.

The development finance institution’s chief executive officer, Martin Inkumbi has however set the record straight that the financing model does not come anywhere near that of the now defunct SME Bank.

He further buttressed that contrary to speculation that the bank will be adopting the functions of the SME Bank, Contrary to speculation, the bank has no intention to operate in the retail banking field, and views itself as a pure development finance institution. 

Talking about the day-to-day operation of the SME Centre, Inkumbi says that although the output can superficially be seen as finance for SMEs, the operation will be underpinned by several layers of support, particularly in the pre-application phase.