Inaugural SME Expo 2006 held

TO mark the first year of their joint venture in assisting budding and small firms, Bank Windhoek and the Development Bank of Namibia (DBN) this week held an inaugural SME expo in Windhoek.

The event – dubbed SME Expo 2006 – saw a number of operators within the small to medium-sized enterprises (SME) sector showcase their wares and services amongst themselves and also to members of the public. Last year the two banks entered into a partnership to provide SMEs with financing and business support through mentorship programmes.In the 13 months since the launch of the SME programme, Bank Windhoek has committed N$23 million, while DBN has invested N$30 million.The guest speaker at the event, Finance Minister Saara Kuugongelwa-Amadhila, said SME development would lead the country to Vision 2030 – a vision to have an industrialised Namibia by the year 2030.She said it was commendable that the banks were also providing business management skills, which were a challenge for many small firms.Kuugongelwa-Amadhila added it was high time the barrier between established companies and SMEs was broken down, so that the informal sector could learn from the experienced, established firms.”The mentorship programme, which is an inherent part of the partnership offering, will forever change the way service providers relate to small business.SMEs need guidance and practical support from service providers.”Equally they would need innovative financial products that are well suited to their special needs and are affordable,” the Minister said.DBN Chairperson Sven Thieme said it was important to support the SME sector, as it was currently the key driver of employment and wealth creation, while Bank Windhoek Chairman Koos Brandt said the partnership was “committed to the economic and social upliftment of Namibians”.The event also saw the official launch of a booklet entitled ‘SME finance’ and the handover of mentorship certificates to 13 SME operators who successfully completed the programme.The Bank Windhoek/DBN venture has delivered funding to 29 beneficiaries, and created employment for some 212 people.Last year the two banks entered into a partnership to provide SMEs with financing and business support through mentorship programmes.In the 13 months since the launch of the SME programme, Bank Windhoek has committed N$23 million, while DBN has invested N$30 million.The guest speaker at the event, Finance Minister Saara Kuugongelwa-Amadhila, said SME development would lead the country to Vision 2030 – a vision to have an industrialised Namibia by the year 2030.She said it was commendable that the banks were also providing business management skills, which were a challenge for many small firms.Kuugongelwa-Amadhila added it was high time the barrier between established companies and SMEs was broken down, so that the informal sector could learn from the experienced, established firms.”The mentorship programme, which is an inherent part of the partnership offering, will forever change the way service providers relate to small business.SMEs need guidance and practical support from service providers.”Equally they would need innovative financial products that are well suited to their special needs and are affordable,” the Minister said.DBN Chairperson Sven Thieme said it was important to support the SME sector, as it was currently the key driver of employment and wealth creation, while Bank Windhoek Chairman Koos Brandt said the partnership was “committed to the economic and social upliftment of Namibians”.The event also saw the official launch of a booklet entitled ‘SME finance’ and the handover of mentorship certificates to 13 SME operators who successfully completed the programme.The Bank Windhoek/DBN venture has delivered funding to 29 beneficiaries, and created employment for some 212 people.