Good businesses recognised

The development bank last week recognised those it said most optimally used its assistance in the past year.

01 November 2016 | Business

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The Development Bank of Namibia (DBN) held its annual Good Business Awards ceremony, paying homage to local businesses making a positive impact on their communities.

Awards were given in the categories ''large enterprise'', ''emerging enterprise'' and ''innovation'', with Gondwana Group member, the Delight Hotel in Swakopmund, crowned the winner in the larger category.

The 54-bed hotel was hailed for its added capacity to tourism in the region, while providing opportunities for other businesses in the sector, including restaurants, shops and activity operators.

In the emerging business category, the winner was Octagon Construction, a Windhoek company with a branch office at Ongwediva which specialises in roads, bridges, municipal infrastructure and housing developments.

The innovation award, recognising innovative enterprises and initiatives with potential to transform the local business landscape, went to Kiyomisandz Beauty Products.

The company develops skincare and body products for men and women. It also provides contract services to assist in research and product development, stability testing, quality control, manufacturing and packaging.

Overseeing Wednesday night''s ceremony at the Safari Convention Centre in Windhoek, the minister in charge of the National Planning Commission (NPC), Tom Alweendo, cited the important role of entrepreneurs in a country''s economy.

“Although the country''s strategy of nurturing enterprise has produced tangible results, more must be done to establish enterprise,” Alweendo said.

“Although labour and capital are available, the entrepreneur acts as an important catalyst to give the necessary spark to economic activities through entrepreneurial decisions, and can play a pivotal role in economic transformation,” the minister said.

The first runner-up in the large enterprise category was Beefcor Meat Supplier, an abattoir started for farmers near Okahandja.

In the emerging enterprise category, Omaka Investment was recognised for its construction of a building material warehouse in Outapi, as well as using its funding from the DBN to acquire inventory and office equipment, as well as for operating capital. The initiative created 50 jobs.

Green Life Trading, a company manufacturing fence posts from recycled plastic, was the first runner-up in the innovation category.

The fence posts, the DBN said, conserve trees and are useful in the construction of traditional rural homes.

STAFF REPORTER

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