Country
Namibia

Local Project Partner
Kongalend Financial Services Ltd (MFI)

German Project Partners
Kreissparkasse Saarlouis

Donator
Germany’s Federal Ministry for Economic Cooperation and Development (BMZ)

Duration
1 August 2015 to 31 July 2020
(Overall project term)

Despite positive economic development, the lack of qualitative access to financial services remains an obstacle to development in the country. A lack of financial education and the unwillingness of financial institutions to provide the company with cash-oriented loans that are not secured by formal salaries hamper entrepreneurial development at the lower end of the market.

The project contributes to the overall development policy goal of improving access to financial services and thus enabling the poorer sections of the population of Namibia to increase their income from entrepreneurial activity and their quality of life. Kongalend is supported to become a relevant and sustainably established microfinance institution that mobilizes savings and opens access to productive loans.

After the successful completion of the orientation phase in July 2017, the subsequent first main project phase aims at institutional strengthening Kongalends in order to reach more customers of the target group with more products on a sustainable basis. Central developments are internal improvements e.g. in reporting as well as in the quality of the processes, and the use of business management tools. The guideline is the regulatory requirements.

In addition, strategic advice is given on the long-term business model and the role of Kongalends in the Namibian financial sector. In addition, the Sparkassenstiftung supports two institutions of basic vocational training with offers that are intended to promote private budgeting and entrepreneurial skills.