SME economy key to employment

At the opening of the three-day Namibia SMEs’ Expo underway in the capital on Wednesday, Sunter said that Namibian banking institutions must place more emphasis on the SMEs’ economy by promoting the development of such businesses.

He also encouraged SMEs to run their businesses by looking at how products are relevant to the consumer, and trying to change their business strategies to suit the market.

“You must be innovative and competitive, and you must offer value for money,” he advised.
He further urged Small and Medium-Sized Enterprises to market their products internationally, and to exchange business strategies and ideas with other SMEs operating on the African continent.

Speaking at the same occasion, Bank Windhoek’s Executive Officer for Marketing and Corporate Communication Services, Marlize Horn, said the SME sector has become a key driver of economic growth, wealth-creation and employment.

“We must strive to achieve the same in Namibia,” she noted.

Horn added that the bank is committed to the vision to improve access to financial products and services, thereby contributing to the economic growth and reduction of poverty and inequality, as set out in the Namibia Financial Sector Strategy.

The three-day Namibia SMEs Expo, organised by SMEs Compete, serves to introduce trade shows as a marketing tool for emerging or novice entrepreneurs, including those who wish to enter the export arena.

This might also include accessing the export promotion and marketing programmes of the Ministry of Trade and Industry.

The first Namibia SMEs Expo was held in 2006, with 29 SMEs show-casing their products.
This year, the event has attracted about 85 exhibitors and was sponsored by Bank Windhoek, First National Bank (FNB) and the Development Bank of Namibia (DBN).

It ends today.