Type Private Number of locations 4 branches (2012) Founded 1 February 2010 | Industry Banking Headquarters Ongwediva, Namibia Number of employees 135 (2012) | |
Predecessor Namibian German Microfinance Limited Area served Namibia (Ohangwena, Omusati, Oshana and Oshikoto) Services Microfinance
SME finance |
FIDES Bank Namibia is a commercial bank in Namibia.
Contents
Overview
FIDES Bank Namibia received its provisional banking license on 4 August 2009. and its permanent license on 1 February 2010. The institution has its headquarters located in Ongwediva in Oshana Region (North-Central part of Namibia). It is one of the five commercial banks. licensed to operate in the country by the Bank of Namibia (the national banking regulator) and the first microfinance bank created in the country since independence.
History
The bank was built after a pilot project called Koshi Yomuti ELO. This project developed microfinance activities from 2002 to 2010, 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 developed from then on an MSME portfolio as well.
Activity
FIDES Bank Namibia is active in two banking segments:
At the end of 2012, FIDES Bank Namibia had a client base of approximately 11,000 people and little above 650 microfinance groups, borrowing on average 216 euros.
Geographical Presence and Branch Network
As of October 2012, FIDES Bank Namibia is present in the four 'O' regions of Northern-Central Namibia (Ohangwena, Omusati, Oshana and Oshikoto). It has a network of 4 branches located in Ondangwa, Oshakati, Oshikango and Outapi. The first branch was opened in Oshakati in April 2010. A new branch is about to open in the Khomas region, in Katutura.
Ownership
FIDES Bank Namibia was owned at the time of its inception by four shareholders: