DBN seeks coastal opportunities
The coast is brimming with opportunity and the Development Bank of Namibia stands ready to provide financing, says Erongo portfolio manager Simeon Kahona.
The Development Bank of Namibia's Erongo portfolio manager, Simeon Kahona, says the bank is seeking opportunities to finance business development in the Erongo Region.
In terms of the bank's additional focus on infrastructure and business projects, identified in the Harambee Prosperity Plan (HPP), it will seek out projects promoted by private entrepreneurs, through public-private partnerships (PPPs), as well as projects identified by the regional council and local authorities.
The bank will also seek to finance projects that are unique to the economy of the Erongo Region.
Talking about the requirement for energy noted in the HPP, Kahona says the bank has advanced N$280 million to Erongo RED to ensure electricity supply.
Financing was also advanced for a solar project at Arandis and a bulk-fuel-supply project.
Other projects that the bank envisages financing are local authority projects, through PPPs, to develop land for affordable housing.
Kahona adds that the bank will also finance social infrastructure in Erongo, noting that economic development should be accompanied by socio-economic development if greater levels of economic activity are to be of benefit to citizens of the region. Kahona says the region has the potential to strengthen its economy to serve the needs and wants of its enterprises.
The DBN believes there is opportunity to finance a light engineering industry that services marine enterprises; the transport and logistics sector; the developing energy sector; and the marine products processing subsector. These projects could have a projected annual turnover of N$10 million or more. In terms of local consumer demand, the DBN has granted a N$25 million loan to African Deli, an enterprise established to manufacture instant meals with an African flair. This, Kahona says, shows that there is potential in Erongo to fulfil regional demand that can extend nationally and further into the Southern African Development Community market.
Kahona says Erongo is a region that keeps on giving to Namibia's national economy, and the bank treats it as a gateway for development in view of that. In the period between 2004 and January 2017, the bank has provided financing of more than N$4.4 billion to the region. The majority of that, N$3.3 billion, was allocated to the transport and logistics sector. That was followed by a N$451 million allocation to the electricity sector and N$197 million to business services.
STAFF REPORTER
In terms of the bank's additional focus on infrastructure and business projects, identified in the Harambee Prosperity Plan (HPP), it will seek out projects promoted by private entrepreneurs, through public-private partnerships (PPPs), as well as projects identified by the regional council and local authorities.
The bank will also seek to finance projects that are unique to the economy of the Erongo Region.
Talking about the requirement for energy noted in the HPP, Kahona says the bank has advanced N$280 million to Erongo RED to ensure electricity supply.
Financing was also advanced for a solar project at Arandis and a bulk-fuel-supply project.
Other projects that the bank envisages financing are local authority projects, through PPPs, to develop land for affordable housing.
Kahona adds that the bank will also finance social infrastructure in Erongo, noting that economic development should be accompanied by socio-economic development if greater levels of economic activity are to be of benefit to citizens of the region. Kahona says the region has the potential to strengthen its economy to serve the needs and wants of its enterprises.
The DBN believes there is opportunity to finance a light engineering industry that services marine enterprises; the transport and logistics sector; the developing energy sector; and the marine products processing subsector. These projects could have a projected annual turnover of N$10 million or more. In terms of local consumer demand, the DBN has granted a N$25 million loan to African Deli, an enterprise established to manufacture instant meals with an African flair. This, Kahona says, shows that there is potential in Erongo to fulfil regional demand that can extend nationally and further into the Southern African Development Community market.
Kahona says Erongo is a region that keeps on giving to Namibia's national economy, and the bank treats it as a gateway for development in view of that. In the period between 2004 and January 2017, the bank has provided financing of more than N$4.4 billion to the region. The majority of that, N$3.3 billion, was allocated to the transport and logistics sector. That was followed by a N$451 million allocation to the electricity sector and N$197 million to business services.
STAFF REPORTER
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