Small and medium enterprises (SMEs) have been urged to have meaningful discussions with banks regarding financing for win-win solutions.
This call was made by Bank Windhoek head of SME, financial and data analytics Bianca Janse van Vuuren at a finance symposium the bank held for micro, small and medium-sized enterprises (MSMEs) in Windhoek last Friday.
Van Vuuren told the entrepreneurs the bank’s aim is to see them achieve their business dreams.
She led the bank’s team in sharing requirements for accounts, as well as loan applications and discussed credit analysis criteria.
“We understand that it is challenging to be a business person. As a result, we are here to assist where we can and continue to build on a meaningful business relationship,” Janse van Vuuren said.
The event, which was held in conjunction with the Namibia Investment Promotion and Development Board (NIPDB) under the theme ‘Accessing Finance with Bank Windhoek’, was attended by formally registered entrepreneurs who have been operating for at least six months.
“Our call received an overwhelming response, with over 570 entrepreneurs who registered. We could, however, only accommodate 40 at the event, but were able to invite all the others who registered to view the event online,” said Bank Windhoek manager of emerging SMEs Jenevieve Swartz.
Finance analyst Joachim Komeheke presented the bank’s sustainability offering, involving green financial solutions for all Bank Windhoek customers.
He said sustainable finance has become pivotal in the realm of finance and that it refers to ESG considerations when making investment decisions in the financial sector and leads to more long-term investments in sustainable economic activities and projects.
The bank’s team engaged the entrepreneurs on a one-on-one basis.
“The feedback we received was positive. It highlighted the mammoth task of adequately serving the SME sector. The responsibility is now on us to strategise and develop products and services that can cater for this sector in all the various stages of the business, for example, the start-up and growth phases,” said Swartz.
The NIPDB and Bank Windhoek agreed to continue engaging SMEs on knowledge-sharing platforms to contribute to Namibia’s economic growth.
– email: matthew@namibian.com.na
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