Trustco Bank Namibia limited, formerly the FIDES Bank Namibia, is a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with co ...

Namibia Namibia (, ), officially the Republic of Namibia, is a country in Southern Africa. Its western border is the Atlantic Ocean. It shares land borders with Zambia and Angola to the north, Botswana to the east and South Africa to the south and ea ...

owned by . Its main commercial activity is to provide

microfinancing Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings ...

services.

History

The bank was built after a pilot project called '. This project developed microfinance activities from 2002 to 2010, targeting specifically

rural In general, a rural area or a countryside is a geographic area that is located outside towns and cities. Typical rural areas have a low population density and small settlements. Agricultural areas and areas with forestry typically are descri ...

population seeking to develop income generation activities. This project initially started in

Ohangwena Region Ohangwena is one of the fourteen regions of Namibia, its capital is Eenhana. Major settlements in the region are the towns Eenhana and Helao Nafidi aa well as the self-governed village of Okongo. , Ohangwena had 150,724 registered voters. Ohang ...

and moved to Ondangwa in 2005,

Oshakati Oshakati is a town in northern Namibia. It is the regional capital of the Oshana Region and one of Namibia's largest places. Oshakati was founded in July 1966 and proclaimed a town in 1992. The town was used as a base of operations by the S ...

in 2006 and

Outapi Outapi wa Nakafingo na Temba, also Outapi or Uutapi and Ombalantu, is a town in northern Namibia near the border with Angola situated northwest of Oshakati. It is the capital of Omusati region and the district capital of the Outapi electoral co ...

in 2007. Upon creation of the bank, then operating as ''FIDES Bank Namibia'', the

portfolio Portfolio may refer to: Objects * Portfolio (briefcase), a type of briefcase Collections * Portfolio (finance), a collection of assets held by an institution or a private individual * Artist's portfolio, a sample of an artist's work or a c ...

of loan was transferred to the new institution, which developed from then on an

MSME Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank ...

as well. The bank received its provisional banking license on 4 August 2009. and its permanent license on 1 February 2010.

Activity

The institution has its headquarters located in

Ongwediva Ongwediva is a town in the Oshana Region in the north of Namibia. It is the district capital of the Ongwediva electoral constituency. it had 27,000 inhabitants and covered 4,102 hectares of land. Ongwediva has seven churches, two private sch ...

Oshana Region Oshana is one of the fourteen regions of Namibia, its capital is Oshakati. The towns of Oshakati, Ongwediva and Ondangwa, all situated with this region, form an urban cluster with the second largest population concentration in Namibia after the c ...

(North-Central part of

). It was one of five commercial banks in 2009 licensed to operate in the country by the

Bank of Namibia The Bank of Namibia (BoN) is the central bank of Namibia, whose establishment is enshrined in Article 128 of the Namibian Constitution. It is located in the capital city of Windhoek. The Bank of Namibia was established in 1990 by the ''Bank of Na ...

(the national banking regulator) and the first microfinance bank created in the country since

independence Independence is a condition of a person, nation, country, or state in which residents and population, or some portion thereof, exercise self-government, and usually sovereignty, over its territory. The opposite of independence is the statu ...

. Trustco Bank Namibia is active in two banking segments: * income generation activities financing ( microfinance): this activity aims at proposing

saving Saving is income not spent, or deferred consumption. Methods of saving include putting money aside in, for example, a deposit account, a pension account, an investment fund, or as cash. Saving also involves reducing expenditures, such as recur ...

s and

loan In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that ...

s products to a clientele mainly located in

areas of the country. The development of this activity is based on a group methodology and deals with populations almost exclusively excluded from the formal Namibian banking system. * Micro, small and medium-size enterprises financing: this activity targets semi-formalized and formalized businesses, usually not approached by traditional

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

s. At the end of 2012, FIDES Bank Namibia had a client base of approximately people and little above microfinance groups, borrowing on average 216 euros.

Geographical Presence and Branch Network

, FIDES Bank Namibia is present in the four 'O' regions of Northern-Central

(

Ohangwena Ohangwena is one of the fourteen regions of Namibia, its capital is Eenhana. Major settlements in the region are the towns Eenhana and Helao Nafidi aa well as the self-governed village of Okongo. , Ohangwena had 150,724 registered voters. Oha ...

Omusati Omusati ( ng, Mopane, after the dominant tree in the area) is one of the fourteen regions of Namibia, its capital is Outapi. The towns of Okahao, Oshikuku and Ruacana as well as the self-governed village Tsandi are situated in this region. , Omus ...

Oshana Oshana is one of the fourteen regions of Namibia, its capital is Oshakati. The towns of Oshakati, Ongwediva and Ondangwa, all situated with this region, form an urban cluster with the second largest population concentration in Namibia after the ...

and

Oshikoto Oshikoto is one of the fourteen regions of Namibia, named after Lake Otjikoto. Its capital is Omuthiya. The city of Tsumeb, Otjikoto's capital until 2008, and the towns of Omuthiya and Oniipa are also situated in this region. , Oshikoto had 112, ...

). It has a network of 4

branches A branch, sometimes called a ramus in botany, is a woody structural member connected to the central trunk of a tree (or sometimes a shrub). Large branches are known as boughs and small branches are known as twigs. The term ''twig'' usually r ...

located in Ondangwa,

Oshikango Oshikango is a former village in northern Namibia and since 2004 part of the town of Helao Nafidi, although it still maintained its own village council for a number of years. ''Oshikango'' is still the name of the border post with Angola and the ...

and

. The first

branch A branch, sometimes called a ramus in botany, is a woody structural member connected to the central trunk of a tree (or sometimes a shrub). Large branches are known as boughs and small branches are known as twigs. The term ''twig'' usually ...

was opened in

in April 2010. A new branch is about to open in the

Khomas Khomas is one of the fourteen regions of Namibia. Its name refers to the Khomas Highland, a high plateau landscape that dominates this administrative unit. Khomas is centered on the capital city Windhoek and provides for this reason superior trans ...

region, in

Katutura Katutura (Otjiherero for ''The place where people do not want to live'') is a township of Windhoek, Khomas Region, Namibia. Katutura was created in 1961 following the forced removal of Windhoek's black population from the Old Location, which a ...

Ownership

FIDES Bank Namibia was owned at the time of its inception by four shareholders: * Swiss Microfinance Holding (30.05%); *

German German(s) may refer to: * Germany (of or related to) ** Germania (historical use) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizens of Germany, see also German nationality law **Ge ...

Development Bank

KfW The KfW, which together with its subsidiaries DEG, KfW IPEX-Bank and FuB forms the KfW Bankengruppe ("banking group"), is a German state-owned investment and development bank, based in Frankfurt. As of 2014, it is the world's largest national d ...

(24.90%); * ' from

France France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of overseas regions and territories in the Americas and the Atlantic, Pacific and Indian Oceans. Its metropolitan area ...

(22.45%); and * the

Belgium Belgium, ; french: Belgique ; german: Belgien officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to th ...

-based fund NV (12.60%); * the French cooperative bank Crédit Coopératif (10.00% - since late 2011). In 2014 the bank was acquired by Trustco Group Holdings and renamed to Trustco Bank Namibia, Ltd.

References

External links