/Big boost for Namibia’s small firms

Big boost for Namibia’s small firms

The Development Bank of Namibia (DBN) and the German Development Bank (KFW) have put together a N$450 million (about US$30 million) concessionary loan facility to resuscitate SMEs whose operations have been constrained by the COVID-19 pandemic.

“DBN also forecasts that the funding will offer financial relief to around 200 SMEs. The bank will customise the loans based on individual enterprise needs. Industries such as tourism, hospitality, and transport and logistics that have experienced the largest loss of revenue due to lockdown-related effects will be prioritised.”

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