Celebrated annually on 27 June is Micro, Small and Medium Enterprises (MSME) Day, designated by the United Nations to highlight the potential of micro, small and medium-sized enterprises to transform economies, foster job creation and promote equitable economic growth.
Bank Windhoek’s Head of SME, Financial and Data Analytics, Bianca Janse Van Vuuren, highlighted that SMEs are the backbone of Namibia’s economy, driving innovation, creating jobs, and fostering community growth. “But beyond their economic contributions, entrepreneurs’ grit, determination, and agility truly set them apart,” she said.
To commemorate this day, Bank Windhoek collaborated with the City of Windhoek to host an Information Sharing and Financial Literacy session at the Bokamoso Entrepreneurial Training Centre in Katutura, Windhoek, on Tuesday, 25 June 2024. The session covered aspects of essential financial management, various loan products available to qualifying clients, the importance of having a bank account and digital marketing. A total of 50 entrepreneurs attended this session and expressed appreciation for the information shared.
Van Vuuren said success as an entrepreneur is not guaranteed and is achieved through hard work and perseverance. “Entrepreneurs face numerous challenges, from securing funding to navigating regulatory hurdles and competing in saturated markets. However, it is their unyielding grit that pushes them forward. The ability to stay focused on long-term goals, even when immediate results are not visible, is a hallmark of successful entrepreneurs,” she said.
Van Vuuren shared that innovation is critical to staying relevant in the rapidly changing business landscape. “Successful entrepreneurs are determined to improve and adapt continuously. They are fearless in taking calculated risks, learn from failures, and adjust when necessary. This determination to innovate keeps their businesses dynamic and competitive.”
During the gathering, attendees were informed that the entrepreneurial journey is often a series of experiments. They were told that swiftly adapting to changing market conditions, customer preferences, and technological advancements is essential. One key piece of advice was that entrepreneurs must be flexible and responsive, making quick decisions while maintaining their overarching vision.
Founder of Modern World Designs and Manufacturing, Norma Uazengisa, said the session was informative and helped entrepreneurs understand what Bank Windhoek can do for them as business owners. “The highlight of the session was the presentation on digital marketing. This was great to learn because we rarely promote our business online. The presentation was eye-opening with different platforms we can use to market and direct sales for products and services,” she said.
Leah Olu-King, coordinator of Business Training and Development at the City of Windhoek, said the partnership with Bank Windhoek is a way of bringing the Bank to the people so they can engage and discuss topics that propel entrepreneurship in the country. She thanked all attendees for their commitment to attend the session. Further, she encouraged them to expand and grow their businesses with the tools and information shared with them.
Van Vuuren concluded that Bank Windhoek celebrates all SMEs, their journeys inspiring, and their contributions invaluable. “We encourage SMEs to maintain their equally crucial well-being while building their businesses,” she said.