Progressing from strength to strength
Kongalend and the German Savings Bank Foundation for International Co-operation signed the three-year main project phase of the institutional strengthening programme on 16 November 2017. The programme builds on the last two years of partnership orientation and will render support to Kongalend to realise its mission to be a permanent feature of Namibia’s financial landscape.
The partnership will render technical and financial support to, among others, refine Kongalend’s business strategy and investment policies, reinforce a strong credit culture by sharpening risk management and mitigating capabilities as well as standardising business processes to ensure efficiency, cost-effectiveness and institutional sustainability. In practice, the agreement entails the secondment by the Savings Bank of short and long-term experienced banking and investment professionals to work alongside their Kongalend management counterparts and will, no doubt, yield extremely positive outcomes.
It will not only broaden and strengthen Kongalend’s operational efficiency but will also support the realisation of Kongalend’s holistic objectives, which are to broaden access to financial services for those at the bottom of the socio-economic pyramid so that household incomes are increased through engagement in productive activity and thus the quality of lives and livelihoods are improved. Joining Kongalend and Savings Bank management to witness and celebrate signature of the agreement were, among others, the German Ambassador to Namibia, Christian Schlaga, investment partners from the Government Institutions Pension Fund, and representatives from the Financial Literacy Initiative, GIZ Namibia and the City of Windhoek all of whom work with Kongalend to roll-out development microfinance.