… As Confidente-NCCI engagement sets Ongwediva Trade Fair alight
By Hilary Mare
THE fourth edition of the annual Confidente-NCCI business stakeholder’s engagement was successfully held at the Ongwediva Annual Trade Fair (OATF) last week, with the FNB Namibia leading discussions pivotal for business growth and development.
Hosted by Confidente and the Namibia Chamber of Commerce and Industry (NCCI) Northern Branch, the business engagement has become a champion in outlining the pivotal elements of business financing and access to banking financial products.
With an impeccable presentation of their products and services, FNB Namibia, through its Area Business Manager for the Far North, Tomas Iindji, broadened the finance dialogue, which helped the attending business community understand the fundamental elements in the different banking packages.
Iindji also spoke at length about access to financing and new innovative financial products, among other key business developmental issues.
“FNB recognises the critical role played by SMEs in the economy and the need for the banking sector to support them. A stronger SME sector can bolster the country’s resilience, by broadening and diversifying the domestic economy, thereby reducing the vulnerability to sector-specific shocks,” Iindji said.
“SMEs provide not only employment for the community, but also tailor-made products in appropriate sizes and quantities, suitable for the community customers.
“The proximity to the market, keeps the transport and marketing costs low, which enables SMEs to sell their wares and products at competitive prices. The high dependence of SMEs on local skills, raw materials and production techniques, enable the country to save on foreign currency, while promoting the exploitation of local resources for both the local and export markets,” Iindji said.
Introducing an innovative product, Iindji announced the establishment of a special fund, which is aimed at addressing issues such as lack of financing to SMEs, due to limitations the sector is experiencing, in terms of collateral and equity.
“Apart from a lack of collateral and equity, clear business planning and the development opportunity for business management skills was often a drawback too. We would like to extend a helping hand, by encouraging budding entrepreneurs to believe in their business ideas, and to talk to us about our core value proposition, which includes various niche products and finance solutions, specifically suited and designed for our SME market.”
Held under the theme ‘Building a knowledge-based northern business community’, the event further contributed to making radical improvements in the financial literacy of the northern business community, thereby strengthening it as a highly-informed business player for the present and the future, in the nation’s quest for industrialisation and prosperity.
“It is our collective responsibility as the media and business community to create the opportunities for our people to live productive, prosperous and dignified lives. The media should be at the forefront of creating platforms for engagement around the economic transformation of the country,” said Ashley Smith, Confidente Manager for Editorial Services, at the event.
Confidente. Lifting the Lid. Copyright © 2015