DBN offers distressed debtors another chance

DBN offers distressed debtors another chance

DBN offers distressed debtors another chance

Tujoromajo Kasuto The Development Bank of Namibia will implement a Business Rescue Programme for qualifying businesses financed by the bank as a possible alternative to liquidation. This will take the form of preference shares and independent business advisors for selected businesses on the verge of liquidation. The program consists of partial debt conversion into various types of preference shares held by the Bank in the enterprise, as well as the deployment of independent business managers to such entities to provide technical and management advisory services. DBN CEO, Martin Inkumbi, highlighted that not all businesses in distress would qualify or meet…
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