DBN prepares to reward good businesses

Start-up businesses can start throwing their hats into the ring for the annual Development Bank of Namibia Good Business Awards, where prizes include grant financing of up to N$250 000.
Participants are drawn from the bank’s borrowers, aiming to highlight their good business practices.
A highlight of the occasion is its Innovation Award category, which seeks out notable proposals for innovative products and practices, as decided by a panel of independent judges.
DBN spokesman Jerome Mutumba says the 2016 Innovation Award winner could receive grant financing of up to N$250 000.
Commercial sectors that will enjoy preference at the award are manufacturing, transport and logistics, and tourism.
“Proposals should give the competitive edge to business or industrial processes,” Mutumba said.
“Among the factors that the panel of independent judges will consider, merit will be given to use of cutting-edge technology and adding value to Namibian resources.”
Other factors that will receive favourable consideration include provision of serviced land and housing, power generation or provision of water, the ease and speed of implementation, and whether such proposal could form the basis of a franchise.
Last year’s winner of the Innovation Award was healthcare company Medi-Rar, whose proposal was to provide a mobile mammography unit for women in rural areas.
Medi-Rar representative Isdor Murunga said the award allowed the company to ramp up operations and grow its turnover substantially. A portion of the money was being used to acquire a mammography machine to be installed in the designated truck.
Another previous winner was 2014’s Eenda-Nawa, whose proposal was to offering life insurance via SMS to travellers in Namibia.

STAFF REPORTER