Credit Guarantee Scheme (CGS)

06 May

Standard Bank joins Credit Guarantee Scheme

ObserverUncategorisedCredit Guarantee Scheme (CGS), Felicia Jooste, SMEs, Standard Bank Namibia, Standard Bank’s Enterprise Direct Manager

Staff Writer Standard Bank Namibia has announced that it has partnered with the Credit Guarantee Scheme (CGS) to provide collateral cover of 60 percent for qualifying SMEs applying for finance from participating commercial finance institutions. Standard Bank’s Enterprise Direct Manager, Felicia Jooste said the decision by the listed banking concern , is driven by a genuine desire to see SME’s grow and thrive in difficult economic conditions. “We are determined to help our small and medium businesses navigate these difficult prevailing conditions, hence the reason we joined the Credit Guarantee Scheme. SME’s are the lifeblood of the economy and employ…

21 Jul

Credit Guarantee Scheme gazetted

ObserverUncategorisedCredit Guarantee Scheme (CGS), Namibia Special Risks Insurance Association (NASRIA)

Staff Writer The long awaited Credit Guarantee Scheme (CGS), which aims provide collateral cover to qualifying SMEs, was gazzetted last month. The CGS which will be rolled-out in collaboration with the Namibia Special Risks Insurance Association (NASRIA) under the Namibia Financial Sector Strategy, with a N$100 million allocation, for which N$2 million will be dedicated to the establishment of a database for SMEs. The facility size will be scaled up over the medium-term through greater public and private sector support. Although SMEs and entrepreneurs will still continue to apply for credit at commercial banks, it is the financial institutions which…