Financial lifeline for SMEs

Finance minister Iipumbu Shiimi this afternoon announced the start of the Credit Guarantee Scheme for small and medium-sized enterprises, which will provide collateral cover of 60% for qualifying SMEs applying for finance from participating commercial finance institutions.
The scheme is a smart partnership between the Development Bank of Namibia (DBN), the Namibia Special Risks Insurance Association (NASRIA) and participating financial institutions.
The smart partnership will be funded with N$98 million seed capital from government and the Bank of Namibia (BoN).