KfW and NamPost support SMEs

19 November 2019 | Business

The German development bank KfW and NamPost supporting small and medium enterprises and households in rural areas with a concessional loan of N$325 million. The funds will be used to provide micro-loans to micro-, small- and medium sized companies and households in rural and remote areas via the NamPost subsidiary PostFin.
According to a statement on behalf of the German Embassy, the funding directly supports poverty reduction and social progression, adequate financial products and access to finance to create an enabling environment for micro and small entrepreneurs in the formal and informal sector.
The funds aim at extending the respective access to finance for up to 28 000 households and these enterprises, with a special focus on women and disadvantaged persons.
According to KfW Windhoek outgoing office director, Dr Uwe Stoll, NamPost can now more easily fulfil its part ‘to leave no one behind’.
NamPost CEO Festus Hangula thanked KfW for the longstanding beneficial relationship between the two institutions that has lasted for more than 14 years. Much has already been achieved with the shared vision of both institutions to make a difference in many Namibian lives which aims at providing solutions to the challenges of the future.

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