Bank Windhoek has announced that it has fully utilized the N$200 million allocated under the Small and Medium-sized Enterprises (SME) Economic Recovery Loan Scheme, with 137 beneficiaries
According to the bank, of this amount, N$192 million is already disbursed, with the remaining N$8 million approved pending disbursement.
“Bank Windhoek assisted 137 SMEs through this scheme. With this much-needed financial assistance, these businesses are geared to navigate uncertainties and unlock new avenues for growth and prosperity,” said Bank Windhoek’s Head of Small and Medium-sized Enterprises (SME), Financial and Data Analytics, Bianca Janse Van Vuuren.
Van Vuuren said that the achievement underscores a crucial step forward in revitalizing struggling businesses and bolstering economic recovery efforts.
“Recognizing the vital role SMEs play in driving economic growth and employment, Bank Windhoek participated in this initiative to offer support to various businesses to assist with the recovery of such businesses,” she said.
Van Vuuren said the success of the SME Economic Recovery Loan Scheme reflects not only the dedication of Bank Windhoek but also the unwavering resilience and determination of SME entrepreneurs to overcome adversity and thrive in challenging times.
“By fostering partnerships and collaboration between financial institutions, SMEs, and other stakeholders, Bank Windhoek continues to champion the aspirations of entrepreneurs and contribute to sustainable economic development,” she said.
Looking ahead, Van Vuuren said the bank remains committed to supporting viable SMEs and is already exploring other avenues for possible assistance.
“As we celebrate the successful disbursement of funds under the SME Economic Recovery Loan Scheme, let us reaffirm our collective commitment to empowering SMEs as growth, innovation, and resilience engines. Together, we can build a brighter future where businesses can thrive and contribute to a thriving economy,” said Van Vuuren.
Re-launched in February 2023, the SME Economic Recovery Loan Scheme is an initiative of the Namibian Government supported by various financial institutions designed to provide much-needed financial assistance to SMEs that suffered through the onslaught of the economic downturn since 2016.
