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DBN approves 34 projects to the value of N$ 123.15 million
The Development Bank of Namibia has announced approved projects to the value of N$ 123.15 million for the period April to June 2010.
Making the announcement on Tuesday, 20 July, DBN Chief Operations Officer, Gottlieb Hinda said a total of 34 projects to the value of N$ 123.15 million were approved in the period. The projects are expected to create 449 permanent and 538 temporary jobs, while retaining 127 jobs, thus having a positive impact on a total of 1,114 employment opportunities.
The sectoral spread by volume reflects a strong bias towards the manufacturing, tourism and construction sectors. The bulk of the funding went towards the manufacturing sector with 37.03 per cent, followed by the tourism sector with 24.36 per cent and construction with 22.95 per cent. Business services with 6.74 per cent, and transport with 0.44 per cent, received the rest of the funding.
60.89 per cent of the value of projects approved has gone to Black Economic Empowerment (BEE) shareholding, while 99 per cent have a BEE component.
The projects are located in all 13 regions of the country, with the bulk, 26 per cent, located in the Khomas Region. The regional spread by volume (number of projects financed per region) and value (N$ spent per region) are reflected below:
The regional spread by volume is: projects with impact across all 13 regions 2.94%; Caprivi 2.94%; Erongo 11.76%; Hardap 2.94%; Karas 8.82%; Kavango 2.94%; Khomas 26.47%; Ohangwena 2.94%; Omusati 11.76%; Oshana 14.71%; Oshikoto 2.94%; Otjozondjupa 5.88%; Mixed Regions 2.94%.
The regional spread by value is: projects with impact across all 13 regions 0.79%; Caprivi 0.76%; Erongo 29.54%; Hardap 1.22%; Karas 2.36%; Kavango 4.06%; Khomas 38.83%; Ohangwena 4.06%; Omusati 14.86%; Oshana 1.76%; Oshikoto 0.81%; Otjozondjupa 0.76%; Mixed Regions 0.19%.
Hinda went on to highlight a number of projects of particular interest.
San Karros Lifestyle Safaris, a subsidiary of Prosperity Africa Holdings, entered into a public private partnership agreement to refurbish, upgrade and manage Daan Viljoen resort.
The period for the lease agreement is 30 years but the agreement is renewable for a further 30 years.
Once upgraded, San Karros will focus on three market segments, namely, general tourism (local and international), the meeting/conference industry and medical and health tourism.
The DBN funds will be used to refurbish the existing infrastructure in order to reposition the resort to include the health tourist market. SNA Trading Enterprises is establishing a warehouse at Katwitwi border post to export building material to Angola.
These materials will include cement, window and door frames, paint, roofing materials as well as tools used in the construction industry. SNAs license will also permit them to export household consumables including food items.
The advantage of exporting through a bonded warehouse comes from the exemption from import duties (custom & excises duties and VAT) which immediately lowers the purchase prices of goods to foreign clients.
The business will be located near the untapped market of Cuando Cubango province of southern Angola.
The DBN funds will be used to purchase vehicles, for working capital and to construct a corrugated roof structure to store products that need protection against rain and sun.
The DBN made two more Innovation Fund awards during the period. The Innovation Fund provides financial support to entrepreneurs with original business concepts and technology that may not have been fully tested and harnessed, but that have potential to deliver new or improved products and services to the market.
Ndafy Creations, recipient of N$ 30,000, produces and supplies candles and accessories for special events or as souvenirs. The company buys wax from suppliers in Okahandja, and then produces various candle products.
Mbeha Software Solutions, a software development business, received N$ 42,000. The company has developed a security management system that can be integrated with biometric fingerprint readers.
Although Mbeha has already designed the software programme, the business requires funds to purchase fingerprint readers so that a complete demonstration can be carried out for potential customers. The DBN funds will be used to purchase biometric reader devices, for working capital and to purchase other ancillary items such as magnetic door lockers.
DBN Project Finance Approvals: April - June 2010
| Andreas Jacobus Swartz t/a A J Swartz Builders | N$ 1.5 million |
| Bold Expression CC | N$ 420,000.00 |
| B Stephanus t/a B Stephanus Renovation & Electrical Works | N$ 500,000.00 |
| Candino Mining & Construction CC | N$ 525,000.00 |
| Capricorn Civil CC | N$ 572,099.24 |
| Decorative Property Development CC | N$ 2.8 million |
| Exclusive Health & Wellness | N$ 3.3 million |
| HPK Earthworks CC | N$ 941,275.00 |
| JJ Property Developers CC | N$ 3 million |
| JMS Southern Investments CC | N$ 2.2 million |
| Johannes N Alugodhi t/a Alugodhi Trading | N$ 610,000.00 |
| Kale Bricks & Construction CC | N$ 1.1 million |
| K & G Bricks CC | N$ 2.96 million |
| Landsberg Drilling & Blasting CC | N$ 3.85 million |
| Lewcore Plant Hire CC | N$ 3 million |
| Namibia Cleaning Chemicals Solutions CC | N$ 488,562.48 |
| Network Energy Solutions (Pty) Ltd | N$ 2.8 million |
| Okongo Investments CC | N$ 230,000.00 |
| Oshikuluvala Investment CC | N$ 2.4 million |
| Owambo Building Construction CC | N$ 1 million |
| Pasinami Construction CC | N$ 2.35 million |
| Patema Investment (Pty) Ltd | N$ 400,000.00 |
| San Karros Lifestyle Safaris (Pty) Ltd | N$ 30 million |
| Sash Trading Enterprises CC | N$ 537,000.00 |
| SLS Crushers CC | N$ 10.6 million |
| SP Brick warehouse CC | N$ 5 million |
| SNA Trading Enterprises CC | N$ 5 million |
| Stucos Builders and Cement Suppliers CC | N$ 410,000.00 |
| Target Developers CC | N$ 3 million |
| Teleline Trading Enterprises CC | N$ 973,475.00 |
| Tutungeni Building Brokers & Cleaning Services CC | N$ 270,000.00 |
| Walvis Bay Salt Holdings | N$ 30 million |
| Water Engineering Africa CC | N$ 214,000.00 |
| Women Mahangu Producers CC | N$ 260,000.00 |
| Innovation Fund Recipients | |
| Ndafy Creations | N$ 30,000.00 |
| Mbeha Software Solutions | N$ 42,000.00 |
- 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
- DBN, NCCI to cooperate
- New DBN Board announced: Elize Angula appointed chairperson
- DBN announces 2008 financial results
- Historic financial sector charter now in place
