The Development Bank of Namibia has called on women and young entrepreneurs in the Erongo Region to make use of available financing opportunities to start, grow, and expand their businesses.

The call was made during a DBN Open Session held in Omaruru. 

The session provided information on DBN financing opportunities and access requirements.

DBN Investment Manager Cliffy Nanuses said women continue to face challenges in accessing finance.

Nanuses said this gap led to the creation of the "DBN for Her" programme to improve women's access to business financing.

“Since 2007 only 14% of our private sector lending went to women, what does it mean, gentlemen? It means that 86% went to businesses owned by men. So we are not disadvantaging you with this product; we are merely trying to correct the imbalance and also uplift our women.”

The National Youth Fund in Erongo currently stands at 941, with a value of N$ 333 million, of which N$7 million is approved.

Focusing on the youth, SME Analyst Jurgen Katjivena said it is important for applicants to have the fundamental business documents in place when applying for financing.

“There is this belief that you have to do a business plan. You basically take a pen and paper and write down what you want to do, who you want to sell to, how much it will cost, and so forth. Even if it is just one or two pages and very simple, that can be your foundation. When you come to us and want to formalise your business as a small business, you don’t need anyone to prepare a business plan for you.”

Chief Manasse Zeraeua of the Zeraeua Traditional Authority encouraged the Omaruru community to use the information shared. Added the Mayor of Omaruru, Eberth Gariseb.

“We have talented, young people, ambitious entrepreneurs, and women who are already contributing meaningfully towards our local economy. What is often needed is access to information and finance in the right support to enable these ideas to grow.”