• Home
  • About Us
  • Contact Us
  • Submit Press Release
  • Sitemap
Africa News Wire
  • General
  • Business Affairs
  • Lifestyle
  • Health Care
  • Sports
  • Legal
  • Study
  • National
  • Press Releases
  • Home
  • Business Affairs
  • Minister announce that SME bank to be officially inaugurated by month end

Minister announce that SME bank to be officially inaugurated by month end

WebDesk
September 19, 2012September 24, 2012 No Comments

WINDHOEK: Trade and Industry Minister Dr Hage Geingob announced today that the long-awaited Small and Medium Enterprises (SME) bank will be officially inaugurated towards the end of this month.

Speaking at the Rural Women’s Parliament session underway in the capital, Geingob said the SME bank has been long overdue, but he was confident that it will provide a new meaning for banking in the country and transform the lives of the previously disadvantaged.

Although the bank will operate as a fully-licensed commercial bank, its main thrust would be to provide access to finance for businesses owned by previously disadvantaged groups who fail to obtain lending from commercial banks because of a lack of collateral.

Geingob noted that the SME bank will appoint advisors for each and every project, who will continuously monitor and advise those involved in the projects to ensure that they succeed.

The bank will engage external experts and consultants who specialise in certain areas in order to ensure that the groups are empowered in their areas of business.

The SME bank will also provide mortgage loans to entrepreneurs for the purchasing of housing and business premises.

A sixteen-year-old boy who was charged for the murder of local musician Petrus Eixab in Swakopmund during June 2009, was found guilty in the Swakopmund Regional Court last Friday.

Magistrate Gaynor Poulton sentenced the minor boy to 15 years’ imprisonment, of which five years were suspended.

The stabbing occurred while Eixab, who was 27-years-old at the time, was on his way home from the centre of town in Swakopmund on 07 June 2009, where he earned a living as a busker at the entrance of the Woermann Brock arcade.

According to court reports, the minor indicated that he had a sexual relationship with the deceased and on the day of the incident, he apparently did not want to consent to sex with Eixab who was drunk, causing a fight to erupt.

He stabbed Eixab at least 10 times on the back, 10 times on the chest and twice on his feet, but was arrested on the same day.

Eixab subsequently died of substantial haemorrhage caused by the stab wounds inflicted, as indicated in the post-mortem report.

Post navigation

Swapo Party confirms nominations for top-four positions
Search must continue for good practices in land degradation

Related Articles

Western Cape Finance and Economic Opportunities on Tourism sector under level 3

- Business Affairs
January 25, 2021January 26, 2021

National Planning Commission hosts webinar to review economic progress towards the NDP’s Vision for 2030, 21 Jan

- Business Affairs
January 19, 2021January 20, 2021

MEC David Maynier calls for extension of UIF-Covid19 TERS to save businesses and jobs

- Business Affairs
January 19, 2021January 20, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

News Search

Page Links

  • Home
  • About Us
  • Contact Us
  • Submit Press Release
  • Sitemap

Advertisement

MonthlyArchives

Advertisement

News Archives

January 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Dec    
© Copyright 2021 - Africa News Wire. All Rights Reserved
  • Home
  • About Us
  • Contact Us
  • Submit Press Release
  • Sitemap