Micro-loans boost small businesses in Erongo

SWAKOPMUND – The Erongo Region Micro-finance Credit Scheme gave 56 people from the region micro-loans to fund their small businesses.

The micro-loans are a product of a partnership between Bank Windhoek, the Rössing Foundation and the Erongo Development Foundation (EDF).
Recipients of the micro-loans on Thursday received certificates for successfully completing financial management and business planning training in Swakopmund.
In addition, they received funding confirmation letters from Bank Windhoek. The loans do not exceed N$10 000.
The Chairman of the National Council and Chairman of EDF, Asser Kapere, said at the ceremony that the scheme is based on the concept of a private-public partnership, and in this case the partners are the Erongo Regional Council, which is a public institution, Rössing Foundation, which is a civic organisation, Bank Windhoek, a private enterprise, EDF, a community trust, as well as the beneficiaries who are members of the public.
‘This indeed is a very good example of a well organised public-private partnership in practice,’ he added.
The Erongo Micro-finance Credit Scheme will assist those who under normal circumstances would not have security, collateral or credit worthiness to obtain loans from credit institutions.
Kapere said the funding through Bank Windhoek is only granted to people not listed with the Credit Bureau because of bad debt.
‘Those listed will not be funded because of our fear to overload the debt and make it unfeasible for these potential beneficiaries to economically carry an additional debt,’ he added.
Kapere urged potential private and public sector institutions to join in, saying: ‘I personally believe in the aims and objectives of the EDF and its commitment to the upliftment of the people in the Erongo Region, and know that with the assistance of the private and public sector, today’s event will become a normal occurrence with our people becoming more and more self-sufficient.’
Also speaking at the event, Erongo Governor Samuel Nuuyoma said: ‘I am convinced and have confidence in women. Once you give a woman an opportunity, she will go a mile ahead of the expectation and achieve the aims and objectives of her dreams.’
-Nampa