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What form of business is best?One of the most important things you need to do is to decide what form of business your SME will be? There are many forms of businesss: from sole proprietorships, to partnerships, to CCs, to PTY LTDs. The most likely form for your small business will either be sole proprietorship or a close corporation. |
DBN, NCCI to cooperate
The Development Bank of Namibia (DBN) and the Namibia Chamber of Commerce and Industry (NCCI) signed a Memorandum of Understanding (MoU) on 4 November 2009, aimed at strengthening the relationship between the two organisations, and to ensure enhanced service delivery to the Namibian business community, particularly the SME sector.
At the signing ceremony, DBN CEO David Nuyoma, said formalisation of a partnership agreement with the NCCI, consolidates the DBN.s position in respect of cooperating with institutions working to foster growth in the country.
“The partnership presents us with an opportunity to enrich one another in respect of the exchange of information, and also our contribution to the development of the SME sector in particular,” he added.
Nuyoma said apart from facilitating access to finance and business support for emerging businesses, one of the key challenges is to underscore businesses. responsibility for the manner in which they conduct their affairs, ensuring that they run sustainable ventures.
At the same event, Tarah Shaanika said that the DBN and NCCI have been working together since the formation of the DBN, and have collaborated on numerous activities in the past.
“The NCCI is very pleased to enter into this MoU, as it brings the services and products of DBN closer to our members. We expect to collaborate with DBN in areas such as information sharing, enterprise development, innovation promotion and SME capacity building to mention but a few. We will under the framework of this MoU, promote DBN products and services amongst our members, participate in marketing initiatives of DBN when necessary and provide platforms for DBN to engage our members so that they can make contributions towards product development and improvement of DBN.”
Shaanika said the NCCI sees the cooperation as an excellent opportunity to strengthen services which can make the Namibian economy competitive and contribute to faster economic growth and job creation.
Through the MoU, the parties, among others, agree to:
- share information on operations and policies of the organisations,
- share information on financing programmes offered by the DBN,
- create channels to promote understanding of DBN.s financing criteria among NCCI members,
- conduct periodic surveys among NCCI members on their financing needs and the quality of DBN’s service,
- use NCCI platforms to introduce DBN products, and
- coordinate initiatives around Micro, Small and Medium Enterprises (MSME) related activities, specifically due to the overwhelming challenges entailed in the field.
The MoU is the result of several meetings since July 2008 to discuss matters of mutual interest. During one of the meetings, the parties agreed to enter into the formal understanding that would guide the parties’ involvement with one another.
- DBN approves 34 projects to the value of N$ 123.15 million
- New DBN director, Emma Haiyambo, announced
- 39 projects financed, 1,018 new job opportunities
- DBN appoints head of Credit and Risk
- DBN to open in north, grow loan book and expand capacity
- New DBN Board announced: Elize Angula appointed chairperson
- DBN announces 2008 financial results
- Historic financial sector charter now in place
- DBN 5th anniversary
- DBN announces Innovation Fund, new projects
- Nampower signs facility for power line
- DBN CEO remains optimistic despite crisis
- Nuyoma re-appointed as Development Bank boss
