Bank invests big in SME mentorship

A local commercial bank recently introduced a restructured branch to help small and medium sized-enterprises (SMEs), a trend that has seen commercial banks coming to the fore in attempting to boost the SME sector.

Bank Windhoek introduced a new approach towards its emerging SME (ESME)/ Bank Windhoek Social Investment Fund by investing more that N$500 000 in a year-long mentorship programme for a selected group of SMEs who are financed by the bank’s ESME branch. The programme started at the beginning of June and a local consultancy firm has been appointed to administrate it.According to Bank Windhoek, two mentors have been appointed to provide mentorship to a group of 30 selected ESME clients operating in Windhoek and Oshakati over a 12-month period.Bank Windhoek’s National Manager for ESME, Kauna Ndilula said the objective of the mentorship programme is to guide ESME clients to efficiently and effectively manage their businesses.The mentorship programme will include indentifying individual enterprise needs of SMEs, developing intervention strategies and providing business advice.Giving his comment on the programme, Ndilula said, “Bank Windhoek is committed to the growth of the Namibian economy and recognises that Namibia is in need of dynamic and successful entrepreneurs that will contribute to the economic growth of our country.We are therefore very proud of our initiative to provide mentorship to our ESME clients.We would like to invite all other stakeholders in this industry to this venture as partners”The programme started at the beginning of June and a local consultancy firm has been appointed to administrate it.According to Bank Windhoek, two mentors have been appointed to provide mentorship to a group of 30 selected ESME clients operating in Windhoek and Oshakati over a 12-month period.Bank Windhoek’s National Manager for ESME, Kauna Ndilula said the objective of the mentorship programme is to guide ESME clients to efficiently and effectively manage their businesses.The mentorship programme will include indentifying individual enterprise needs of SMEs, developing intervention strategies and providing business advice.Giving his comment on the programme, Ndilula said, “Bank Windhoek is committed to the growth of the Namibian economy and recognises that Namibia is in need of dynamic and successful entrepreneurs that will contribute to the economic growth of our country.We are therefore very proud of our initiative to provide mentorship to our ESME clients.We would like to invite all other stakeholders in this industry to this venture as partners”