FIDES Bank Namibia
FIDES Bank Namibia is a commercial bank in Namibia.
Overview
FIDES Bank Namibia received its provisional banking license on 4 August 2009.[2][3] and its permanent license on 1 February 2010.[4][5] The institution has its headquarters located in Ongwediva in Oshana Region (North-Central part of Namibia). It is one of the five commercial banks.[6] licensed to operate in the country by the Bank of Namibia (the national banking regulator)[7][8] and the first microfinance bank created in the country since independance.[9]
History
The bank was built after a pilot project called Koshi Yomuti ELO.[10][11] This project developed microfinance activities from 2002 to 2010,[12][13] targeting specifically rural population seeking to develop income generation activities. This project initially started in Ohangwena Region and moved to Ondangwa in 2005, Oshakati in 2006 and Outapi in 2007. Upon creation of the bank, the portfolio of loan was transferred to the new institution, which developped from then on an MSME portfolio as well.[14]
Activity
FIDES Bank Namibia is active in two banking segments:[5]
- income generation activities financing (microfinance): this activity aims at proposing savings and loans products to a clientele majorily located in rural areas of the country.[15] The development of this activity is based on a group methodology[16] and deals with populations almost exclusively excluded from the formal Namibian banking system.[17]
- Micro, Small and Medium Size Enterprises financing: this activity targets semi-formalized and formalized businesses, usually not approached by traditional banks.[17]
At the end of 2010, FIDES Bank Namibia was having a client based of approximately 5,000 people and little above 500 microfinance groups.[18]
Geographical Presence and Branch Network
As of October 2011[update], FIDES Bank Namibia is present in the four 'O' regions of Northern-Central Namibia (Ohangwena, Omusati, Oshana and Oshikoto). It has a network of 3 branches located in Ondangwa, Oshakati and Oshikango. The first branch was opened in Oshakati in April 2010.[19][20]
Ownership
FIDES Bank Namibia was owned at the time of its inception by four shareholders:
- Swiss Microfinance Holding (35.98%);[17]
- German Development Bank KfW (24.90%);[21]
- Investisseurs et Partenaires pour le développement from France (22.45%); and
- the Belgium-based fund Volksvermogen NV (16.70%).[22][18]
See also
References
- ^ Certificate of Authorization to Conduct Banking Business No. BIC 006, issued in Windhoek by the Bank of Namibia
- ^ Terblanché, Niël (August 6, 2009). "BON staan banklisensie aan mikrolener toe" (in Afrikaans). Die Republikein.
- ^ "First micro finance bank gets licence". Namibia Economist. August 7, 2009.
- ^ Heita, Desie (February 4, 2010). "Bank for poor opens its doors". New Era.
- ^ a b Pletter, Roman (May 2010). Business on Credit.
- ^ Heita, Desie (September 1, 2009). "Big four banks not scared of competition". New Era.
- ^ Heita, Desie (August 4, 2009). "Micro Finance Banking Sparks Need for Regulation". New Era.
- ^ Alkatib, Sukaynah (September 2009). "Lifeline for the". Insight Namibia.
- ^ Mach, Marco (August 5, 2009). "Mikrofinanzbank erhält Lizenz" (in German). Allgemeine Zeitung.
- ^ Katswara, Tonderai (October 25, 2006). "Micro-finance improves lives of rural people". The Namibian.
- ^ Goeieman, Fred (August 17, 2007). "Vrede vestig die grondslag vir groei, sê kenner" (in Afrikaans). Die Republikein.
- ^ Vries, Da'oud (September 22, 2008). "Germany gives seed capital for Namibia's first micro-finance banking institution". The Namibian.
- ^ Bothma, Ruhan (September 23, 2008). "Miljoene dollar se hulp vir entrepreneurs" (in Afrikaans). Die Republikein.
- ^ Geutling, Thorsten (September 6, 2008). "Germany Bankrolls Micro Finance Bank for the North". Informanté.
- ^ Meyer, Daniela (December 2011). "Victorias Bankgeheimnis" (in German). €uro.
- ^ "Grameen Model Launched in Namibia". Business Post. February 1st, 2010.
- ^ a b c "FIDES Bank Namibia" (in English). Financial Services Namibia 2011-2012. June 2011-June 2012.
- ^ a b "Profile MIX-Market de Koshi Yomuti" http://www.mixmarket.org/mfi/koshi-yomuti. Retrieved 29 October 2010
- ^ Oshakati-kantoor (April 30, 2010). "FIDES bank open tak op Oshakati" (in Afrikaans). Die Republikein.
- ^ "FIDES Bank Namibia Limited opened its doors to the public" (in English). NBC News. 2010-04-29. http://www.nbc.com.na/article.php?title=FIDES_Bank_Namibia_Limited_opened_its_doors_to_the_public._&id=1738. Retrieved 2011-04-15.
- ^ Alweendo, Ndapwa (August 4, 2009). "German investor in micro-finance bank has no plans to stick around long". The Namibian.
- ^ "The Prospective FIDES Bank Namibia Ltd receives the provisional Banking License From Bank of Namibia", press release, 4th August 2009
External links