FIDES Bank Namibia
Encyclopedia
FIDES Bank Namibia is a commercial bank
in Namibia
.
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 independance.
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 developped from then on an MSME portfolio
as well.
At the end of 2010, FIDES Bank Namibia was having a client based of approximately people and little above microfinance
groups.
(Ohangwena, Omusati
, Oshana
and Oshikoto
). It has a network of 3 branches
located in Ondangwa, Oshakati
and Oshikango
. The first branch
was opened in Oshakati
in .
s:
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Namibia
Namibia
Namibia, officially the Republic of Namibia , is a country in southern Africa whose western border is the Atlantic Ocean. It shares land borders with Angola and Zambia to the north, Botswana to the east and South Africa to the south and east. It gained independence from South Africa on 21 March...
.
Overview
FIDES Bank Namibia received its provisional banking license on . and its permanent license on .The institution has its headquarters located in Ongwediva
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 schools and 13 government-run schools...
in Oshana Region
Oshana
Oshana is one of the thirteen regions of Namibia. The name Oshana lends itself well to this region as it describes the most prominent landscape feature in the area, namely the shallow, seasonally inundated depressions which underpin the local agro ecological system...
(North-Central part of Namibia
Namibia
Namibia, officially the Republic of Namibia , is a country in southern Africa whose western border is the Atlantic Ocean. It shares land borders with Angola and Zambia to the north, Botswana to the east and South Africa to the south and east. It gained independence from South Africa on 21 March...
). It is one of the five commercial banks. licensed to operate in the country by the Bank of Namibia
Bank of Namibia
The Bank of Namibia was established in 1993 to replace the never opened Namibia Reserve Bank. The Bank of Namibia is the only institution that is permitted to issue the Namibian dollar by authority that has been given to it under an Act of the Namibian Parliament. The head of the Bank of Namibia is...
(the national banking regulator) and the first microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
bank created in the country since independance.
History
The bank was built after a pilot project called . This project developed microfinanceMicrofinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
activities from 2002 to 2010, targeting specifically rural
The Bush
"The bush" is a term used for rural, undeveloped land or country areas in certain countries.-Australia:The term is iconic in Australia. In reference to the landscape, "bush" describes a wooded area, intermediate between a shrubland and a forest, generally of dry and nitrogen-poor soil, mostly...
population seeking to develop income generation activities.
This project initially started in Ohangwena Region and moved to Ondangwa in 2005, Oshakati
Oshakati
Oshakati is a town of 30,000 inhabitants in the Oshana Region of Namibia. It is the regional capital and was officially founded in July 1966. The city was used as a base of operations by the South African Defence Force during the South African Border War and Namibian War of Independence...
in 2006 and Outapi in 2007.
Upon creation of the bank, the portfolio
Portfolio (finance)
Portfolio is a financial term denoting a collection of investments held by an investment company, hedge fund, financial institution or individual.-Definition:The term portfolio refers to any collection of financial assets such as stocks, bonds and cash...
of loan
Loan
A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower....
was transferred to the new institution, which developped from then on an MSME portfolio
Portfolio (finance)
Portfolio is a financial term denoting a collection of investments held by an investment company, hedge fund, financial institution or individual.-Definition:The term portfolio refers to any collection of financial assets such as stocks, bonds and cash...
as well.
Activity
FIDES Bank Namibia is active in two banking segments:- income generation activities financing (microfinanceMicrofinanceMicrofinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
): this activity aims at proposing savings and loanLoanA loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower....
s products to a clientele majorily located in ruralThe Bush"The bush" is a term used for rural, undeveloped land or country areas in certain countries.-Australia:The term is iconic in Australia. In reference to the landscape, "bush" describes a wooded area, intermediate between a shrubland and a forest, generally of dry and nitrogen-poor soil, mostly...
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 bankBankA bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
s.
At the end of 2010, FIDES Bank Namibia was having a client based of approximately people and little above microfinance
Microfinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
groups.
Geographical Presence and Branch Network
, FIDES Bank Namibia is present in the four 'O' regions of Northern-Central NamibiaNamibia
Namibia, officially the Republic of Namibia , is a country in southern Africa whose western border is the Atlantic Ocean. It shares land borders with Angola and Zambia to the north, Botswana to the east and South Africa to the south and east. It gained independence from South Africa on 21 March...
(Ohangwena, Omusati
Omusati
Omusati region is one of the thirteen regions of Namibia. Uutapi at Ombalantu forms a natural centre for this region. Mopani tree is the dominant species; the Makalani palms decrease rapidly westwards from the border with Oshana region...
, Oshana
Oshana
Oshana is one of the thirteen regions of Namibia. The name Oshana lends itself well to this region as it describes the most prominent landscape feature in the area, namely the shallow, seasonally inundated depressions which underpin the local agro ecological system...
and Oshikoto
Oshikoto
Oshikoto may refer to*Oshikoto Region, Namibia*Oshikoto Constituency, Namibia...
). It has a network of 3 branches
Branch (banking)
A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution offers a wide array of face-to-face and automated services to its customers....
located in Ondangwa, Oshakati
Oshakati
Oshakati is a town of 30,000 inhabitants in the Oshana Region of Namibia. It is the regional capital and was officially founded in July 1966. The city was used as a base of operations by the South African Defence Force during the South African Border War and Namibian War of Independence...
and Oshikango
Oshikango
Oshikango is a village in northern Namibia and a border post to Angola. Since 2004 it is part of the town of Helao Nafidi but still maintains its own village council. It is the district capital of the Oshikango Constituency...
. The first branch
Branch (banking)
A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution offers a wide array of face-to-face and automated services to its customers....
was opened in Oshakati
Oshakati
Oshakati is a town of 30,000 inhabitants in the Oshana Region of Namibia. It is the regional capital and was officially founded in July 1966. The city was used as a base of operations by the South African Defence Force during the South African Border War and Namibian War of Independence...
in .
Ownership
FIDES Bank Namibia was owned at the time of its inception by four shareholderShareholder
A shareholder or stockholder is an individual or institution that legally owns one or more shares of stock in a public or private corporation. Shareholders own the stock, but not the corporation itself ....
s:
- Swiss Microfinance Holding (35.98%);
- GermanGermanyGermany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
Development Bank KfWKFWKFW may refer to:*Keith Fullerton Whitman , an American musician*KfW or Kreditanstalt für Wiederaufbau, a German public-sector financial institution...
(24.90%); - from FranceFranceThe French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
(22.45%); and - the BelgiumBelgiumBelgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
-based fund NV (16.70%).
See also
- Bank of NamibiaBank of NamibiaThe Bank of Namibia was established in 1993 to replace the never opened Namibia Reserve Bank. The Bank of Namibia is the only institution that is permitted to issue the Namibian dollar by authority that has been given to it under an Act of the Namibian Parliament. The head of the Bank of Namibia is...
- Economy of NamibiaEconomy of NamibiaThe Namibian economy has a modern market sector, which produces most of the country's wealth, and a traditional subsistence sector. Although the majority of the population engages in subsistence agriculture and herding, Namibia has more than 200,000 skilled workers, as well as a small,...
- Kreditanstalt für WiederaufbauKFWKFW may refer to:*Keith Fullerton Whitman , an American musician*KfW or Kreditanstalt für Wiederaufbau, a German public-sector financial institution...
- List of banks in Namibia
- MicrocreditMicrocreditMicrocredit is the extension of very small loans to those in poverty designed to spur entrepreneurship. These individuals lack collateral, steady employment and a verifiable credit history and therefore cannot meet even the most minimal qualifications to gain access to traditional credit...
- MicrofinanceMicrofinanceMicrofinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....