The Agricultural Bank of Namibia (Agribank) and the Development Bank of Namibia (DBN) recently signed a memorandum of understanding (MoU) relating to the co-financing of controlled-environment agriculture activities in Namibia.

The MoU also recognizes the two banks' shared interest in promoting agriculture as a means of generating economic activity and ensuring food security.

The Development Bank of Namibia in collaboration with the Namibia Trade Forum entered into an agreement aimed at financing Small and Medium Enterprises in the manufacturing industry. 

DBN and NTF are looking forward to enhancing the development and growth of SMEs by facilitating investment and market access. 

SMEs play a vital role in the country's economic growth through the employment opportunities they offer.

However, challenges such as lack of business training and access to finance are challenges that negatively affect their growth.