FNB donates N$440 000 to SMEs

FIRST National Bank on Tuesday donated N$440 000 to a local small and medium enterprise development organisation, SMEs Compete.

The money will be used for skills development and training of SMEs. FNB Namibia’s Group CEO, Vekuii Rukoro, said at the handover that access to finance alone cannot lead to successful SMEs and therefore skills development and training remain key factors in the survival and growth of emerging businesses.He said FNB engaged the services of SMEs Compete to assist SMEs to improve their entrepreneurial, business management, marketing and financial management skills.”As the bank gains more experience and understanding of the SME sector and its challenges, FNB will continue to improve its service offering to this market and provide financial and other key business services access to small and emerging entrepreneurs,” he said.He said FNB is committed to SME finance as a key business imperative and for supporting nation-building and economic empowerment of Namibians.Since the establishment of its SME Business Unit in 2005, FNB has provided financial support to over 130 SMEs from various sectors of the economy, resulting in additional job creation, income generation and local economic growth.NampaFNB Namibia’s Group CEO, Vekuii Rukoro, said at the handover that access to finance alone cannot lead to successful SMEs and therefore skills development and training remain key factors in the survival and growth of emerging businesses.He said FNB engaged the services of SMEs Compete to assist SMEs to improve their entrepreneurial, business management, marketing and financial management skills.”As the bank gains more experience and understanding of the SME sector and its challenges, FNB will continue to improve its service offering to this market and provide financial and other key business services access to small and emerging entrepreneurs,” he said.He said FNB is committed to SME finance as a key business imperative and for supporting nation-building and economic empowerment of Namibians.Since the establishment of its SME Business Unit in 2005, FNB has provided financial support to over 130 SMEs from various sectors of the economy, resulting in additional job creation, income generation and local economic growth.Nampa