Financial Service Charta nearly completed

Saturday 24th of June 2006
Brigitte Weidlich

Namibia will have its first sector charta soon, which will enable previously disadvantaged people to play a part and an active role. The committee working on the charta for the financial sector will had over the final draft to the minister of finance by 30 June, Ms Gida Sekandi of the committee said. Speaking at a forum organised by the Bank of Namibia this week, Sikandi said the committee had almost completed its work on the draft. The service charta for the financial sector will deal with black economic empowerment (BEE) to enter financial service providers dealing with inter alia insurance, retirement funds and money lending. Better access to funding for small and medium enterprises, previously "unbankable" individuals and SME’s will then be possible. In South Africa, several chartas have been completed for the finance sector, mining and tourism. For each sector a council was set up to oversee the goals of the charta documents over the next years.

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