On Tuesday last week the
The bank would also place emphasis on development of enterprise in rural areas. Talking about this potential, he said that the bank would not finance agriculture, as this is the ambit of the
Inkumbi said that the DBN would begin to focus particularly on women and youth entrepreneurs as key drivers of
The DBN CEO went on to highlight four recent projects which embody the bank's strategy for the coming four years.
Namibia Exclusive Safaris (NES) received finance to construct two lodges in the Omatandeka and
Carbo Namibia, an existing charcoal processing and manufacturing plant in Grootfontein in the
DBN also approved finance for the expansion of Beefcor Meat Suppliers for a meat processing plant in Okahandja in the
DBN recently also approved finance for the
Talking about the fourth quarter of 2013, Inkumbi said the DBN approved loans to the value N$158.8 million.
The approvals are projected to affect 1 928 jobs, of which 424 are expected to be new, 1 095 temporary and 409 retained. Elaborating on the high number of temporary jobs, Inkumbi said the figure was a reflection of the high number of approvals to contractors in the construction sector during the quarter. "Temporary jobs are a natural and valued component of job creation during the current phase of economic development in which
Of the approvals during the fourth quarter of 2013, 93 per cent is allocated to previously disadvantaged Namibians and 21 per cent of that is allocated to enterprises owned by women. Introducing a new field of measurement, Inkumbi said that allocations to youth enterprise made up 38 per cent of the approvals.
The DBN CEO also noted that the sector that received the highest allocations was the construction sector (61.3 per cent), followed by wholesale, retail trade and repairs (13.2 per cent) and manufacturing (8.9 per cent).
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