Old Mutual launches SME competition

OLD Mutual Namibia in partnership with the Namibia Chamber of Commerce and Industry, Namibian Broadcasting Corporation and SMEs Compete launched a competition for small firms called ‘EnterPrize 2007’ in Windhoek on Tuesday.

The objectives of the competition that will run countrywide until October this year is to create awareness of the successes of small and medium enterprises in Namibia, build partnerships and celebrate and acknowledge the country’s true heroes. The competition will run under two categories such as the small business category for businesses that employ one to 30 employees and the medium business category for businesses that employ 30 to 100 employees, with one winner in each category.Prizes worth up to N$50 000 are up for grabs.The criteria for the competition include market expansion, innovation and employment creation.Bonus points will be given for social advancement and environmental protection.According to Old Mutual’s Chief Executive Corporate, Andrew Le Roux, who was speaking at the launch, it is important to empower SMEs because they are a major contributor to employment creation, offer skills development for Namibians and are key drivers in the transformation of the economy.He said the rationale behind the competition was that there was a need for education on personal finance, business finance and risk management.Le Roux said the SME support, including rural areas, would involve capacity-building through workshops and seminars, information dissemination, networking events, black economic empowerment (BEE) partners endorsement and radio talk shows.”We want to make sure that there is growth and sustainability in the SME sector, innovation and creativity, expanding markets, maximising opportunities, mutually beneficial networking, environmental friendly businesses and healthy business practices and good governance,” Le Roux said.NampaThe competition will run under two categories such as the small business category for businesses that employ one to 30 employees and the medium business category for businesses that employ 30 to 100 employees, with one winner in each category.Prizes worth up to N$50 000 are up for grabs.The criteria for the competition include market expansion, innovation and employment creation.Bonus points will be given for social advancement and environmental protection.According to Old Mutual’s Chief Executive Corporate, Andrew Le Roux, who was speaking at the launch, it is important to empower SMEs because they are a major contributor to employment creation, offer skills development for Namibians and are key drivers in the transformation of the economy.He said the rationale behind the competition was that there was a need for education on personal finance, business finance and risk management. Le Roux said the SME support, including rural areas, would involve capacity-building through workshops and seminars, information dissemination, networking events, black economic empowerment (BEE) partners endorsement and radio talk shows.”We want to make sure that there is growth and sustainability in the SME sector, innovation and creativity, expanding markets, maximising opportunities, mutually beneficial networking, environmental friendly businesses and healthy business practices and good governance,” Le Roux said.Nampa