NTF, DBN partner to finance import and export trade

• By Erasmus Shalihaxwe

THE Namibia Trade Forum (NTF) and Development Bank (DBN) recently signed a Memorandum of Understanding (MoU) aimed at assisting export-oriented enterprises, Start-ups and Small Business Enterprises (SMEs) to apply for DBN financing and help small business to enter the continental market.

During the signing ceremony held this week, International Trade and Commerce, Deputy Director, in the Ministry of Industrialisation, Trade and SME Development, Ndiitah Nghipondoka-Robiati said Namibia and the Africa continent are working towards greater integration and the MoU would improve and strengthen SMEs and allows Namibia to accelerate its industrialisation agenda and diversify its export market.

She said SMEs are the backbone of most economies and are key source of economic growth dynamism and flexibility, hence, they, SMEs, have to engage in programs that foster entrepreneurial thinking and enhance entrepreneurship.

“Collaboration such as the NTF-DBN MoU, commitment and consistency are the three factors which will enable SMEs to become highly independent and increase their survival rate,” Robiati said.

Speaking at the same occasion, NTF Chief Executive Officer, Stacey Pinto said the collaboration was geared to strengthen applications for DBN financing by SMEs and NTF should be a first stop for SMEs intending to export goods or services to the African Continental Free Trade Area (AfCTA) countries.