24
Jan
Martin Endjala The Development Bank of Namibia (DBN) has clarified its position regarding the Small Medium Enterprise (SME) loan scheme, stating that collateral is a mandatory requirement for all applicants. This announcement comes amid frustrations voiced by several entrepreneurs who have faced loan rejections due to the absence of collateral. DBN’s Head of Marketing and Corporate Communications, Jerome Mutumba, explained to this publication that collateral is a standard requirement across financial institutions. It serves as security for the bank and helps mitigate lending risks. “In cases where borrowers are unable to repay the loan, the bank can recover the debt…