BoN paid out N$ 85,9 million through its SME Economic Recovery Loan Scheme


The Bank of Namibia (BoN) has so far paid out N$ 85,9 million to SMEs through its SME Economic Recovery Loan Scheme. 
The Scheme is designed to support SMEs in an effort to promote economic recovery. 

The Central Bank says the SME Economic Recovery Loan Scheme is a much-needed boost that has created employment opportunities for Namibians who would have otherwise been jobless in the aftermath of the COVID-19 pandemic and geopolitical storms. 

Nandi-Ndaitwah urge Namibians to encourage local exhibitions


Deputy Prime Minister Netumbo Nandi-Ndaitwah says exhibitions are vital for both economic and cultural development.

They are also long-term drivers in the promotion of innovation and an important element in economic growth, as well as a prerequisite for job creation.

She made the remark at a fundraising dinner held ahead of the Ondangwa Trade and Industrial Exhibition Center at Ondangwa Airport Lodge.

Nandi-Ndaitwah says local exhibitions must be encouraged in countries such as Namibia, where economic development needs a push from all directions.

BoN, Finance Ministry re-launch SME Economic Recovery Loan Scheme


Bank of Namibia and the Ministry of Finance and Public Enterprises have re-launched the SME Economic Recovery Loan Scheme.  

This scheme was created with the aim of rescuing the SME sector, which was hit hard by economic headwinds, particularly the COVID-19 pandemic.
The COVID-19 pandemic, depressed profits, and financial losses due to COVID-19 and further coupled with the global economic recession and geopolitical tensions.

The buying power within communities has diminished, and this has resulted in a deteriorating state of affairs for many SMEs.