{"id":55798,"date":"2023-05-19T00:00:00","date_gmt":"2023-05-19T00:00:00","guid":{"rendered":"http:\/\/southafricatribune.com\/?guid=ee6bab458ff45b142dc61ea7ed02354f"},"modified":"2023-05-19T00:00:00","modified_gmt":"2023-05-19T00:00:00","slug":"bon-disburses-n-dollars-85-9-million-in-sme-recovery-loan-scheme","status":"publish","type":"post","link":"https:\/\/southafricatribune.com\/bon-disburses-n-dollars-85-9-million-in-sme-recovery-loan-scheme\/","title":{"rendered":"BoN disburses N.dollars 85.9 million in SME recovery loan scheme"},"content":{"rendered":"
The Bank of Namibia (BoN) has disbursed N.dollars 85.9 million worth of loans in the re-launch of the Small Medium Enterprise (SME) Economic recovery loan scheme.<\/P>
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A statement issued on Friday by the bank\u2019s director of communications and international relations, Kazembire Zemburuka, said the re-launching of the scheme was in response to economic challenges faced by SMEs due to the COVID-19 pandemic.<\/P>
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\u201cThe SME economy recovery loan scheme is starting to play a significant role in supporting the growth and sustainability of SMEs in Namibia,\u201d said Zemburuka.<\/P>
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He said that since the re-launch the scheme has attracted applications from 200 SMEs countrywide.<\/P>
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Zemburuka explained that BoN is the latest institution to offer the scheme for its existing clients.<\/P>
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The loan scheme involves the allocation of N.dollars 500 million to eligible SMEs and SMEs can seek loans from N.dollars 50 000 to N.dollars 10 million.<\/P>
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Zemburuka added that the loans are disbursed at a rate equivalent to the current prime lending rate, with a reduction of 50 basis points and less stringent conditions.<\/P>
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He concluded that 80 out of the 200 SMEs that have submitted their applications have been granted loans, while the remaining 120 applications are undergoing review.<\/P>
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Source: The Namibian Press Agency<\/P>
<\/P><\/p>\n","protected":false},"excerpt":{"rendered":"
The Bank of Namibia (BoN) has disbursed N.dollars 85.9 million worth of loans in the re-launch of the Small Medium Enterprise (SME) Economic recovery loan scheme.A statement issued on Friday by the bank\u2019s director of communications and international re…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"yoast_head":"\n