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RMB Namibia launches new banking division

Recent surveys carried out have shown that Namibia is becoming a high growth economy. (Image source: World Bank)

Namibian bank and Merchant Bank (RMB) has set-up a full corporate and investment banking division

Companies who have been funded by RMB recently include Debmarine Namibia, B2 Gold, Extract Resources, Paladin Energy, Bannerman, Grindrod, RMB revealed.

“Our ability to pick winners in the mining sector has allowed us to walk the road together on key projects like Langer Heinrich Uranium, Ohorongo Cement, Otjikoto Gold and Husab Uranium,” said RMB managing director Steve Galloway.

“This does not include mega-projects like the TransKalahari Railway. Public- Private Partnerships with Nampower, Namcor, Namport, TransNamib and Namwater are the only way we can bridge this gap, together,” Galloway added.

According to RMB's managing director, two independent surveys carried out revealed that Namibia is strongly being recognised as a high growth economy.

“The African Retail Development Index (ARDI) places Namibia third in Africa, a remarkable achievement for a relatively small economy with only two million people. Secondly, the Canadian Frazer Institute also ranks Namibia third in Africa in respect of resources prospectively, the rating being a combined policy and resource potential indicator,” Galloway said.

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