THE construction and manufacturing sectors were the major beneficiaries of loans approved by the Development Bank of Namibia's (DBN) in the first quarter of 2013.

The loans approved in the first quarter totalled N$75,8 million.

Martin Inkumbi, the acting DBN chief executive officer, yesterday made the figures public at a media briefing.

He said two thirds of the loans (N$50,5 million) were allocated to small and medium enterprises (SMEs), and the remaining third (N$50,5 million) to larger enterprises.

He said most of the loans were were for road construction and maintenance, and for the manufacturing sector.

“The high level of approvals for road construction reflects the national priority assigned to road infrastructure and road maintenance,” he said.

According to him, Namibia's road network is one of the best on the continent and the DBN's contribution towards its upkeep is in recognition of its economic importance.

The loans were allocated as follows: construction N$31,5 million, manufacturing N$13,6 million, wholesale, retail trade and repairs N$9,8 million, health N$7,9 million and business services N$7,2 million. Education received N$5 million, N$6 million went to transport and communication while hotels and restaurants received N$200 000.

Otjozondjupa was the region receiving the highest number of loans totalling N$14,7 million (19,4% of the total).

Projects based in more than one region accounted for N$14 million. The Khomas received loans worth N$12 million (15,8%), Karas N$8 million and Erongo N$6,6 million. Ohangwena was in the lead among the northern regions with loans worth N$4,2 million, followed by Omusati with N$4,1 million, Oshana N$4,1 million and Oshikoto N$2,1 million.

Ventures in Caprivi were granted loans worth N$1,1 million, Kavango got N$3 million while Omaheke received N$1 million. According to Inkumbi, the loans are expected to result in 255 new permanent jobs and 853 temporary jobs. Temporary jobs are mostly created in construction sector.

Inkumbi said the approved loans have a 92% previously disadvantaged Namibian (PDN) component, and 24% of the enterprises are owned by women.

Loans of N$30,9 million were approved in the tertiary industry and N$44,9 million in the secondary industry. He said no loans were approved in the primary industry.
 

Source : allafrica.com

Posted on : 30 Nov,-0001