Challenges faced by SME’s

ANONYMOUS WRITES:

We would like to appeal to the Bank of Namibia and Minister of Finance, Ericah Shafudah, to expedite the extension of the SME recovery loan.

The SME’s are suffering terribly because the banks do not really help SME’s. They will list SME’s with ITC. Now I ask myself, how do they expect SME’s to meet their responsibilities if you listed them with ITC. There is no bank in Namibia that shows empathy for SME’s.

Government tenders are out because we do not have the money to pay those bribes. SME’s create jobs in the country, they also take interns from NIMT, VTC etc. If we do not have work on the floor we cannot take the interns.

Operating capital is the biggest challenge for SME’s. Even if a company has a lot of work and there is no material, it is a problem, but banks do not make an effort to help SME’s. A few years ago, First National Bank was still the best bank and till today it looked after SME’s. We appeal to banks to really become more lenient with the SME’s. Challenges: High rental cost, lack of operational capital and no support from government with regards to tenders.



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