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.