The Far-North of Namibia has always been a key strategic focus area for Bank Windhoek, evident from the Bank’s footprint of 16 branches and 106 Automatic Teller Machines (ATMs). Bank Windhoek’s Managing Director, Baronice Hans, shared this information at the Northern Estate Agents Award event hosted on Thursday, 10 March 2022, in Oshakati.
Regarding investments, Hans shared that Bank Windhoek partners with 14 different developers involved in developing 133 other commercial and residential properties in this region with an investment of N$100 million to date. “Development in the north is still relatively subdued at present. The Bank looks forward to supporting the industry in its entirety once the economy has recovered,” she said.
Hans added that the volatility of the economic environment continues to pose challenges for businesses and individual households in Namibia. However, she emphasized that there is still hope for the property market as the latest data shows recovery. “We are still unsure of just how the war in Ukraine will affect us and the property market,” she said. “What we know for sure is that we have seen drastic increases in the price of fuel which will translate into increased inflation and normally an increase in interest rates. We sincerely hope that things will turn around for the better.”
The Bank Windhoek Annual Estate Agent Awards offers recognition to residential and commercial estate agents, agencies, and developers, from the northern, central, and coastal regions, for their commitment, loyalty, and support to Bank Windhoek and its customers. The north event was the concluding occasion.
Regent Real Estates was announced as the Top Estate Agency, followed by Hippo Real Estate and Ediva Real Estates. Timoteus Iita, Menethe Nikodemus, and Simeon Iita walked away as the top three estates agents in the north. The estate agents shared that despite having experienced economic challenges, they agreed that innovating and adapting to change helped them navigate the challenging economic landscape. Timoteus Iita said that he made sure that all his customers are well serviced since he believes in the power of word of mouth. Simeon Iita said that being innovative in business has always been his strategy as an estate agent. “You must be innovative by applying research, experimenting, and planning,” said Simeon Iita.