Nedbank Namibia and NIPDB unite forces

Propelling MSMEs to success
Nedbank has pledged a generous sponsorship of N$100 000 to the High Potential Pool.
Phillepus Uusiku
In an era that seeks to propel small and medium-sized enterprises (SMEs) to the forefront of economic recovery, Nedbank Namibia and the Namibia Investment Promotion and Development Board (NIPDB) have forged a remarkable partnership to supercharge this vital sector. By sponsoring the transformative High Potential Pool initiative, Nedbank Namibia manifests its unwavering commitment to fostering SME development in the country.

According to Nedbank Namibia’s Head of SME’s, Sam Ikela, "Nedbank Namibia firmly believes that integrating SMEs into the mainstream economy is crucial for our nation's economic recovery."

This corporate ethos is crystallised in the bank's robust support for SMEs, offering loans from N$50 000 to N$10 million, and is further amplified through their sponsorship of the NIPDB High Potential Pool. This innovative program under the Know2Grow umbrella aims to expedite the growth trajectory of promising, export-ready Micro and Small businesses through international business linkages, trade missions and international trade fairs, coaching and mentoring and product testing, product certification and licensing, business model and process improvement where required.

The High Potential Pool offers qualifying members an invaluable package of opportunities for a period of 36 months. Nedbank has pledged a generous sponsorship of N$100 000 to the High Potential Pool, which will be officially handed over at an eagerly anticipated ceremony on 10 August 2023.

By tapping into international markets and harnessing the power of global connections, these businesses can truly realise their growth potential. Nedbank's interest in sectors such as green hydrogen also means that MSMEs looking to contribute to the green energy transition can find strong support and guidance.

Future

“Through the High Potential Pool, the NIPDB aims to contribute towards the creation of a pool of MSMEs that are future-focused, resilient and playing an integral part in driving Namibia’s economy forward,” stated Dino Ballotti, Executive Director for MSME Development, Innovation and Acceleration at the NIPDB.

NIPDB's ambitious target is to empower 3 000 MSMEs by the end of this year. This collaboration with Nedbank forms an integral part of that vision, offering entrepreneurs the tools to grow their business and extend their influence across the MSME sector.

Currently, the High Potential Pool consists of approximately 60 MSMEs from across the country, representing various sectors including cosmetology, food processing and manufacturing, amongst others.

More than 20 export-ready MSMEs have already benefited from this initiative by being selected to participate in international events related to investment promotion, such as the Annual Investment Meeting held in Abu Dhabi in May this year and the Africa's Big 7 exhibition held in Johannesburg in June this year.

Participation

A group of 12 MSMEs have also been selected to participate in the Intra-Africa Trade Fair’s Creative Africa Nexus (CANEX) scheduled for November 2023 in Cairo.

“With this financial investment from Nedbank Namibia, we will be able to increase the membership of the High Potential Pool, and thus assist more businesses to grow; and as they expand their operation, they will in turn be able to create more jobs for Namibia, thus making economic prosperity a reality for our people,” said Ballotti.

"We invite all qualifying MSMEs to sign up for the High Potential Pool. This opportunity, presented by NIPDB and backed by Nedbank, is a golden ticket to expanding your business," urges Ikela.

In a landscape where SMEs are becoming pivotal components of the national economy, Nedbank Namibia's strategic alignment with initiatives like Know2Grow ensures they stand as a steadfast ally for SMEs. As Nedbank continues to weave the future narrative of SME growth in Namibia, it remains dedicated to building a prosperous, SME-driven economy. This partnership with NIPDB, combined with the insightful leadership of Ikela, signals a bright future for the SME landscape in Namibia.

Interested MSMEs are encouraged to contact msme.cbma@nipdb.com.