Keetmanshoop-The CEO of the Development Bank of Namibia (DBN), Martin Inkumbi, says there is a need for more Namibian enterprises to add value to the country’s raw materials.
He said as per his observations, not many enterprises approach the bank for funding of brilliant ideas on how to add value to raw materials, and turn them into products that can be sold locally and abroad – which he said needs to change.
“We have noticed we are not really seeing a lot of value-adding enterprises coming to the bank to do any enquiries for funding. All we see are a lot of the normal enterprises, but we want to see more enterprises adding value to our natural resources, and hopefully sell finished products to other countries,” he said.
Speaking during the opening of the //Kharas Innovation Hub International Symposium at Keetmanshoop on Wednesday, Inkumbi said many entrepreneurs approaching the bank for funding are in property development and retail – and it is thus important that more people start businesses that can add value to Namibia’s resources.
He said this would not only bring in income for the entrepreneurs, but boost the economy.
He thanked the organisers of the symposium, saying such platform is where mindsets can be changed.
He added that platforms like the symposium are needed not only to talk, and forge relationships, but to take resolutions to act and bring about change.
“I commend the organisers of this symposium – innovation is a prerequisite for economic growth and competitiveness. Your contribution helps to secure Namibia’s economy, now and in the future,” stated Inkumbi.
He said DBN is committed to fund good business ideas, and urged entrepreneurs to be innovative and create new products, technologies and new methods, adding that the corporate world is constantly evolving to meet the demands and expectations of markets, and innovation is the only guarantee to remain in the game.
“To entrepreneurs in attendance today – our doors are open to you, bring us your business plans so that we can examine their business logic,” said Inkumbi.