By Heike Scholtz
Working at the Development Bank of Namibia (DBN) for more than 13 years has allowed me to see my share of business owners, entrepreneurs, idealists, and dreamers pass through our doors.
What they all have in common is drive, determination, and an individualistic streak – an essential trait for anyone who wants to start or develop their own business. I am a little envious of them, as I have not ventured into entrepreneurship yet, although I imagine I will.
Working at DBN as Head of Business Strategy and before that in Business Development roles, my team plays a vital role in the development of businesses. They say a good idea can come from anywhere.
Having a good idea and turning it into a sustainable and scalable business is something else entirely. This is where we shine as DBN. There are so many moving parts to starting a business; it requires planning, ambitions, and skills development in many areas, from marketing to financial planning and business development, to name just a few examples. You must be a jack of all trades and, in this case, a master of all of them. A good idea alone will not get you anywhere, and the hard work really starts once you secure funding.
DBN aims to drive Namibia’s sustainable socio-economic development, emphasizing sustainable development and social impact, with a renewed focus on grassroots development. This focus dovetails perfectly with the new role of “Gender Champion for Inclusive Gendered Financing”, which has recently been added to my portfolio at DBN. An additional and necessary aspect that we concentrate on is financing women and the youth and supporting them in their development journey.
Namibia has a vast cohort of unemployed youth, DBN excels in supporting and assisting women and men in developing their dream of owning and running their enterprises. DBN has implemented business mentoring and offers various forms of support, even if they don’t bank with DBN.
Our primary goal is to help these young entrepreneurs better understand how to run a business effectively. While this is not startup training, it is highly beneficial for both startups and existing SMEs alike. One of our products is specifically developed for young business owners who want to start a business related to their study or trade. Besides the business support included in the product, they also get more attractive loan terms.
We have found that many young skills-based entrepreneurs have a great degree of expertise in their fields but require business management acumen. Without having the expertise and skill their enterprises will likely not be sustainable. Which is heartbreaking for the business owner and negatively impacts the economy.
The creation of programmes that enhance business management skills is something that I am particularly proud of. Still, I want to emphasize that our team focuses on strategically structuring transactions that drive access to finance.
The real game-changer is the catalytic effect of the Credit Guarantee Scheme, which DBN, in collaboration with Namibia Special Risks Insurance Limited (NASRIA), has implemented to provide emerging SMEs with access to finance.
I look around Namibia and see SMEs that have started and developed with DBN’s support. Facilitating loans is only one piece of the puzzle; supporting our businesses with the right business skills and advice is just as critical to ensure their success. Just as important is creating the right ecosystem where Namibian companies can flourish, such as a conducive tax regime and reduced red tape. They, in turn, power our Namibian economy.
I firmly believe that DBN is only at the start of its ‘Let’s Develop’ journey, and our support will help guide Namibia and Namibians at all socio-economic levels to economic growth, empowerment, and success.
*Heike Scholtz is Head: Business Strategy at the Development Bank of Namibia