NASRIA, Bank Windhoek announce N$50 million CGS partnership

Namibia Special Risks Insurance Association (NASRIA) and Bank Windhoek have partnered on a N$50 million Credit Guarantee Scheme (CGS), marking the bank as the latest institution to implement it.
This initiative aims to empower Namibian youth, women and SMEs by addressing limited credit access and fostering innovation, job creation, and economic growth.
NASRIA's Managing Director, John Uusiku, highlighted the association's strategic focus on inclusive growth and its commitment to innovative products like the CGS, emphasising the scheme's role in supporting SMEs lacking collateral to obtain loans.
Bank Windhoek's Managing Director, Baronice Hans, praised NASRIA for spearheading the scheme, allowing the bank to assess risk differently and supporting SMEs' access to financing. She pledged Bank Windhoek's commitment to co-creating similar products to further empower Namibian businesses.
Uusiku explained that the scheme significantly reduces collateral requirements for SMEs, offering collateral cover of 60% of the loan amount for qualifying SMEs assessed as bankable but lacking collateral.