Nudo demands SME Bank inquiry
The National Unity Democratic Organisation (Nudo) has called on President Hage Geingob to order an enquiry into the SME Bank debacle.
The request was made by Nudo spokesperson Joseph Kauandenge.
According to Kauandenge, the objective of the SME Bank was to finance Namibian small enterprises that could not get loans from mainstream banks to grow their businesses.
“It is really mindboggling to what extent some of our leaders have stood by becoming so greedy that they too have to benefit from a process that was aimed at those most vulnerable in society,” said an irate Kauandenge.
“It is however clear that this bank has again been hijacked like the Black Economic Empowerment initiatives by already well-off leaders, who could have easily gone to banks and got loans there to expand their farms or businesses.”
According to him, it was regrettable that owners of small and medium enterprises had to compete for SME Bank loans with well-connected politicians and businesspeople with established businesses.
“We can see who those greedy leaders are and they must be shamed publicly and they must be made to account and repay every last cent to the bank,” Kauandenge said.
STAFF REPORTER
The request was made by Nudo spokesperson Joseph Kauandenge.
According to Kauandenge, the objective of the SME Bank was to finance Namibian small enterprises that could not get loans from mainstream banks to grow their businesses.
“It is really mindboggling to what extent some of our leaders have stood by becoming so greedy that they too have to benefit from a process that was aimed at those most vulnerable in society,” said an irate Kauandenge.
“It is however clear that this bank has again been hijacked like the Black Economic Empowerment initiatives by already well-off leaders, who could have easily gone to banks and got loans there to expand their farms or businesses.”
According to him, it was regrettable that owners of small and medium enterprises had to compete for SME Bank loans with well-connected politicians and businesspeople with established businesses.
“We can see who those greedy leaders are and they must be shamed publicly and they must be made to account and repay every last cent to the bank,” Kauandenge said.
STAFF REPORTER
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