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Tuesday, 08 November 2016

EIB lends N$113 million to Namibian SMEs

The European Investment Bank (EIB), the bank of the European Union, has signed a EUR 7,5 million (N$113,5 million) credit facility with Trustco Group Holdings Limited to finance small businesses and entrepreneurs in Namibia. At a ceremony held yesterday at Trustco's headquarters, the EIB, Europe's long-term lending institution, signed the agreement with Trustco Group Holdings Limited. “The European Investment Bank has a strong track record in supporting crucial investment programmes across Africa and around the world,” said Pim van Ballekom, European Investment Bank vice president. “We are glad to support Trustco Group Holdings Limited in continuing to provide loans to a crucial segment of the economy that has traditionally struggled with getting access to finance.” “The Trustco Group remains committed to a vision of creating wealth for our shareholders, customers and employees while impacting positively on society and our planet. This facility will enable Trustco to contribute meaningfully to the aspiring citizens of Namibia, for whom I hold a great affinity. By providing much-needed loans that traditionally have been difficult to obtain, the group will fully demonstrate its commitment to business and entrepreneurs,” said Quinton van Rooyen, group managing director of Trustco.

Source: namibian.com.na