FNB echoes government support of SME’s

By Prime Focus Reporter
March 2014
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FNB’sRobert Eimann, Head of the SME division has echoed Government’s promise to support and nurture the SME sector in Namibia. “Minister of Trade and Industry Calle Schlettwein recently said that government is supporting SME’s on an ongoing basis. I would like to say that we, at FNB Namibia, do the same and have been doing so for numerous years,” Eiman said.

 

He added that both FNB Namibia and the Namibian Government wished for SME’s to become more profitable so that they could actively and positively participate in the country’s economy, thereby creating wealth for all as well as assisting the growth at home and employment creation strategy.

 

Eiman said that when looking back at 2013 the highlight for the SME division at FNB Namibia was certainly the number of new businesses the bank has managed to fund, thereby contributing to employment plus the fact that these businesses continue to grow and prosper. He added that the greatest challenge remained the fact that the service/product offering was not fully understood by the broader network of entrepreneurs in all areas and the fact that they were not aware of how the SME Division can assist them to start and grow their businesses. “We are continuously striving to educate and reach them all to give them a fighting chance in the SME market.”

 

When looking at 2014, FNB Namibia’s SME division would like to reach a wider audience and ensure that the flexible product and service offerings are enjoyed by entrepreneurs throughout the country. “Secondly we wish to ensure that our service offering adapts to the ever changing needs of entrepreneurs while making sure that we continuously improve the skills and knowledge of our customers through targeted training and mentorship.”

 

Eimann concluded that the SME sector would continue to face an onslaught of competitors entering the market jostling for the same consumer base, while the weakness of the Rand and subsequent weakening spending power would also affect business as well as the possibility of an upward change in the interest rate in Namibia. “I hope that we will see an innovation in terms of products and services and continued growth to satisfy the premise that the SME sector is the backbone of the economy. We invite entrepreneurs out there who want to start their own business to engage FNB to ensure that financing or rather the lack thereof will not hamper their plans for financial independence. We would furthermore like to be a partner to the existing business that needs to grow and expand.” PF

 

For more information please contact Vicky Muranda, Manager: Corporate Communications at FNB Holdings on telephone: (+264 61) 299 2944. vmuranda@fnbnamibia.com.na