Different stakeholders have joined forces to commission an in-depth market analysis on the need and relevance of private equity to Small and Medium Enterprises (SMEs) in the country.
The study themed: ‘Study on a private equity initiative for emerging SMEs in Namibia’ will be investigating the relevance for supporting SMEs to access equity capital and the economic viability of private vehicles in the country.
The study will be conducted by well-known economic expert and researcher Robin Sherbourne.
Business Financial Solutions (BFS), the Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ), Bank of Windhoek and the Global Compact Network Namibia (GCNN) signed a memorandum of understanding this week forming a partnership behind the initiative.
The project will be conducted under the auspices of GIZ/ GCNN’s Public–Private Partnership framework and the costs are to be shared between the parties.
The partnership was formed with the aim of working towards developing access to financial services by SMEs, hence contributing to the economical development of the country. The study was primarily commissioned by Business Financial Service and then received co-financial support from the remaining partners for the study.
“As a small player in the financial market, BFS is committed to the development of the financial market in Namibia and continues to play a catalytic role. BFS however recognizes that it cannot have the desired impact on its own and as such strives to work with likeminded and pioneering stakeholders such as GIZ, Global Compact and Bank Windhoek institutions that have made significant contributions in SME development territory in their own right,” chairman of BFS, Fabian Tait said at the signing of the MOU.
Upon the completion of the study, the partners will share the key data with Namfisa, the Bank of Namibia and other stakeholders, including the public, to support the financial inclusion initiatives of Government and the central bank.