Business / Companies
Bank of Namibia takes over 'MetBank' linked SME Bank
02 Mar 2017 at 06:16hrs | Views
The Bank of Namibia (BON) has taken over the reigns at SME Bank due to what BON Governor, Iipumbi Shiimi described as unsound investments made in South Africa.
Zimbabwean businessman Enock Kamushinda has an interest in the bank while MetBank is the technical partner.
Shiimi said that following routine supervisory actions and investigations on the investments made by the SME Bank, the decision was taken to temporarily cease control of the bank.
Source - online