Bank Windhoek and the Development Bank of Namibia have signed an agreement this week to deliver medium term finance to emerging Small and Medium Enterprises ESMEs). The Development Bank contributed 30 million from its investment fund to be channelled through Bank Windhoek. "The ESME market is underdeveloped in Namibia," said James Hill, new CEO of Bank Windhoek. The small business sector could contribute more significantly to the general economy, if they got more support to do business.

Bank Windhoek recently introduced a restructured branch dedicated to the needs of entrepreneurs wishing to start or grow a small to medium sized business, the first of its kind in Namibia. Bank Windhoek’s SME Branch offers a comprehensive range of products tailored to the individual business needs of its clients. As part of the Bank’s new approach towards Emerging SMEs, the bank’s Social Investment Fund supports the ESME Branch by investing over N$ 500 000 in a mentorship programme for a selected group of Emerging SMEs who are financed by the ESME branch. The objective of the mentorship programme is to guide 30 ESME clients to efficiently and effec-tively manage their businesses since 1 June 2005. A local consultancy was appointed to administrate this programme. Two mentors have been appointed to provide mentorship to a group of 30 selected ESME clients residing in Windhoek and Oshakati over one year. Ms Kauna Ndilula, is the bank’s national manager for the ESME sector.