geo/namibia
One in five people in Nambia are employed in the SME sector and contribute over 12 percent to the gross domestic product. Bank Windhoek has experienced that in addition to financing, the major need of start-ups and small and medium businesses is mentoring. Mentorship guides SMEs on how to run a successful and sustainable business.
Procurement has a huge role to play in the development of the Namibian small and medium enterprise (SME) sector if only appropriate financing could be found.
Bank Windhoek is calling on small business owners to make use of its SME finance branch, which assists Namibians to start their own businesses. "If you have a business idea, be it construction, transport, manufacturing, franchising, retailing, or if you simply wish to expand your existing business, but lack the capital to do so Bank Windhoek can assist you to realise your business dream.
These statistics were provided by Sakaria Nghikembua, the managing director of Mutual & Federal Namibia, during a meeting of the Economic Association of Namibia held in Windhoek on Tuesday.
Other statistics provided by Nghikembua showed that in Namibia, over 100 000 people are employed by SMEs, whilst SMEs create over 16 000 new jobs annually, compared to roughly 4000 created by big business annually.
