NASRIA has embarked on a new venture that expands its Credit Guarantee Scheme, an innovative insurance product that aims to empower SMEs.

The government, through a smart partnership with the Bank of Namibia, the Development Bank of Namibia, the Namibia Special Risks Insurance Association, and participating financial institutions, has structured a Credit Guarantee Scheme facility that will provide 60% collateral cover for a viable SME business loan.

The credit guarantee scheme is an innovative insurance product aimed at capacitating both existing and new SMEs.

Namibia Special Risks Insurance Association (NASRIA) handed over a dividend of N$10 million for the 2023 financial year to its sole shareholder, the Namibian Government.

The company has attributed its improved performance to sound governance and dedication to delivering on its mandate.

Adrians Vugs, NASRIA's Board Chairperson, says that despite the economic headwinds that have faced the country, the current dividend payment is a testament to NASRIA’s resilience and ability to adapt to changing dynamics in the financial services sector and the economy at large.