COMPAN

Y
PROFILE
1 Waima Financial Services

Index
Waima Financial Services is a registered Financial Services Company providing short to medium
term financing to Individuals, Small and Medium sized Enterprises (SME) in Namibia. Waima is
registered and supervised by the Bank of Namibia. The Company commenced operations in 2012.
The Waima team is young, vibrant and innovative and have significant experience in the financial
services industry. Waima Financial Services was founded based on the need to fill a gap in the
way financial services are offered to individuals and Small and Medium Enterprises.

The Waima team is continuously

looking for innovative and efficient
means of clients accessing short
term financing. We realize that not
every business or personal loan
application will fit in the “straight
and narrow” traditional loan
appraisal checklist and we
therefore look at different ways of
serving our clients with the
information they have readily
available for a credit appraisal.

WHAT WE BELIEVE

Making access to Short turnaround time, Innovative and Great

short term financing minimal efficient channels customer
easy for both documentation, for clients to service and
individuals and precise credit accesses experience
SME’s appraisal and efficient financing
service
2 Waima Financial Services

About US
Waima Financial Services is a registered Financial Services Company providing short to medium
term financing to Individuals, Small and Medium sized Enterprises (SME) in Namibia. Waima is
registered under the Namibian laws on Waima Financial Services reg. no cc/2021/02088. The
Company commenced operations in 2021. The Waima team is young, vibrant and innovative and
have significant experience in the financial services industry. Waima Financial Services was founded
based on the need to fill a gap in the way financial services are offered to individuals and Small
and Medium Enterprises.

The Waima team is continuously

looking for innovative and efficient
means of clients accessing short
term financing. We realize that not
every business or personal loan
application will fit in the “straight
and narrow” traditional loan
appraisal checklist, and we
therefore look at different ways of
serving our clients with the
information they have readily
available for a credit appraisal.

WHAT WE BELIEVE

Making access to Short turnaround time, Innovative and Great

short term financing minimal efficient channels customer
easy for both documentation, for clients to service and
individuals and precise credit accesses experience
SME’s appraisal and efficient financing
service
 Waima Financial Services 2

OUR VISON AND

MISSION

• Vision: To be the most preferred financial services provider in Namibia.

• Mission:

OUR VALUES
• Integrity: We are honest, trustworthy , consistent and transparent in
all our actions and decisions.

• Confidentiality: We ensure that information is accessible only to those

authorized to have access and is protected throughout its lifecycle.

• Compassionate: We will remember and honor the client experience by

treating each borrower as a member of the family.

• Efficiency: We will continually review our processes and support systems

in place for our clients in order to ensure client satisfaction.

• Teamwork: We work together , across boundaries, to meet the needs

of our customers and help our company win.

PRODUCTS AND SERVICES

The Company supports SME’s and Individuals by providing financing needs through short term
loans. Our loans are designed to provide financial support in the following categories:

PERSONAL BUSINESS
LOANS LOANS
We provide different loan We provide different loan
products to individuals in products to companies who
our society. provide services to
reputable off-takers.
3 Waima Financial Services

OUR CLIENTS
Over the years we have serviced several clients from different sectors of the economy. Our clients
provide goods and services to Non-Government Organizations, large Corporates, the Mines,
Government, the Banking Sector, Telecoms Industry and Oil marketing Companies among others.

Our clients emanate from different sectors which include:

SUPPLIER
S

FARMING
ENTERPRISE CONSTRUCTION
S

MANUFACTURER
S RETAILERS

TOURISM
 Waima Financial Services 4

LOAN FEATURES

Loan tenures
ranging
from
1 to 36
months.

Loan
amounts
from
N$1,000
to N$30,
000.

Tailor made
products to
meet the
needs of our
clients
 5 Waima Financial Services

BUSINESS LOAN
TYPES
SECURITY BACKED SME FINANCING

This facility is a security backed loan that is open to all Small and Medium Enterprises that are duly
incorporated and registered with PACRA and have evidence of servicing reputable Companies.

ORDER FINANCING INVOICE DISCOUNTING TERM LOANS

SMEs who have orders
with established
Corporates can obtain
short term credit of 30 to
90 days to enable them
to fulfill their Supply
contractual obligations.
SME’s that have already
supplied goods and
services to Corporates
and wish to get an
advance against the
amounts payable by the
Corporate to meet their
short-term needs.
SME’s with proven track
records and regular cash
flows from servicing
reputable corporate
organizations may qualify
for a short-term working
capital loan ranging from 1
to 12 months.

LOAN APPLICATION
PROCESS

1 2 3 4 5
SME Altus confirms Credit appraisal Management Security
supplier/ order with conducted credit perfection with
contractor corporate KYC committee lands, PACRA &
approaches Altus approves facility RTSA
for funding documentatio undertaken &
n reviewed finance is
advanced to
REQUIREMENTS ACCEPTABLE SECURITY SME

• PACRA documentation • For loans up to K50,000 – Motor

• 12 months Bank Statements
• Directors KYC
• Copies of orders, Invoices
and supply Contracts
• Acceptable Security
vehicle (comprehensively insured)
• For loans above K50,000 – Landed
property
 Altus Financial 6
Services

BUSINESS LOAN TYPES

CONTINUED…
CORPORATE MOU BASED SME FINANCING

These products are available to SMEs who provide services/goods to established Corporates
who have signed a Memorandum of Understanding with Altus to facilitate payment of Altus
loan repayments directly from the off-taker.

APPLICATION AND LOAN SMEs may obtain advance payments on

PROCESS their Supply/Service Invoices that they
have already delivered on/fulfilled,
invoiced and are pending payment. This

1
facility is only open to SME’s servicing
CORPORATE SIGNS MOU WITH
Corporates that have signed an MOU.
ALTUS

REPAYMENT UNTIL
MATURITY

2
SME APPLIES FOR LOAN AND
Altus makes submission
CREDIT APPRAISAL IS
CONDUCTED
1 of amounts due to Corporate

3
ALTUS RECONFIRMS
Corporate pays Altus full invoice
INVOICES/SUPPLY HISTORY WITH 2 value
CORPORATE

4
Altus deducts loan amount
ASSIGNMENT OF RECEIVABLES
BY SME TO ALTUS
3 payable and remits balance of
funds to the borrower

5 FINANCING ADVANCED TO SME 4 Loan closed

off
7 Waima Financial
Services

PERSONAL LOAN
TYPES
NON –PAYROLL LOANS

We provide short term loans to individuals who are in employment or have proof of regular
income. These type of facilities can be issued to individuals requiring funding to meet
emergency needs which may include school fees, medical bills, acquiring assets, building or
expanding your home and many other unforeseen expenses.

I KYC documents for

applicant

II Proof of regular income

III 6 months bank

statements

No adverse information on your CRB

IV report

Security (landed property or

V motor vehicle)

LOAN APPLICATION
PROCESS

1 2 3 4 5
Individual Altus confirms Credit appraisal Management Security perfection
approaches individual KYC conducted credit with Ministry of
Altus for documentatio committee lands or RTSA is
funding n and approves facility undertaken &
supporting finance is advanced
documents to individual
 Waima Financial Services 8
PERSONAL LOAN TYPES CONTINUED…
PERSONAL CREDIT – CORPORATE PAYROLL
Waima Financial Services provides short term credit facilities to employees of Companies that
enter into a Memorandum of Understanding (MOU) for payroll deduct loans with Altus. We offer
superior service with a short turnaround time. The process is simple, and funds are disbursed
within 24hours of a complete application being received. The funds are collected via monthly
payroll deductions from the employer Company.

KEY FEATURES OF OUR LOANS

• Short term in nature, meant to finance short term needs that Banks typically do not
finance.
• Loan repayment period is from 1 month to 36 months
• Top ups available after 3 months of performance on initial loan
• No collateral required
• Early Loan repayment allowed
• Loan size depends on Employee’s salary and tenure of loan
Our standard affordability criteria is that the employee should remain with at least 40% of Gross
pay as take-home pay after all statutory, employer and third-party deductions.

HOW IT WORKS
MOU Signed Between Employer and Altus

1 •
•
Employer agrees to facilitate Altus loan deduction from payroll
Employer agrees to remit deduction schedule and payment to
Altus

Employee Application
• NRC
•
•
•
Three(3) latest pay slips
Preapproval document form HR/Finance
Three(3) latest bank statements
2
• Introductory letter

Altus Review of Application

• Check that employees pay is within MOU

3 •
•
conditions
Credit reference Bureau check
Reconfirms employment status
• Loan approved
• Loan disbursed within 24 hours

Month End Repayment of Loan

• Altus submits loan repayment schedule on agreed date
•
•
Employer uploads deductions on payroll
Employer transfers consolidated deductions with deduction
schedule to Altus
4
• Altus uploads repayments on system and loan is fully paid off
9 Waima Financial Services

LOAN TYPES
CONTINUED…
INSTANT SALARY ADVANCES

Altus Financial Services provides short term credit facilities to individuals in formal employment.
We offer superior services with a short turnaround time. The procedure is simple and
straightforward in addition funds are disbursed within the short turnaround time of 30 minutes or
less upon successful completion of application forms.

HOW DO I QUALIFY?
To apply for an instant salary advance fill in a loan application form and bring the following:

Three latest pay Three latest bank Introductory letter

slips (stamped statements from the
by employer) (stamped by employer
bank)

Copy of Two passport

NRC/Valid size photos
passport/valid
driver’s license

The funds are collected at the end of the month through Direct Debit and Credit Clearing
(DDACC) payment system.
 Waima Financial Services 10

WHY CHOOSE
US

We engage our We work with We provide We are We add value to

clients to find employers to mobile service to the lives of our
out how we can ensure needs avoid the cost to efficien clients by
improve our of employees both the t providing access
service offering are met employer and to other
the employee products
through our
strategic
alliances
ADVANTAGES TO EMPLOYER

Reduce A well
administrative monitored and
Frees up
burden of coordinated
working capital
administering management of
for the
salary the scheme in
employer
advances and liaison with the
loans employer
ADVANTAGES TO EMPLOYEE

Finance for
education, Short turn around
Access to quick personal time between
and easy development and 30min to
financing other short-term 24hours.
funding needs.

Existing Loan
Interest rates are
Refinance
fixed over the
(Replace existing
tenor of the loan
facilities with
thereby
new loans from
providing peace
our
of mind
organization)
 11 Waima Financial Services

OUR TEAM

We believe our greatest asset is our people. We employ a young and vibrant team ready to
serve you. Our people are highly trained and resourceful. Altus Financial Services is proudly
Zambian owned and Zambian managed.

MEMBER TEAM
Ken Simwaba is a seasoned finance professional with
vast industry experience spanning 20 years in Financial
Services covering Pensions and Asset Management,
Microfinance and SME lending and Insurance Services.
He has a Master’s Degree in Business Administration
(MBA) from Heriot Watt University, an MA Leadership
in Development Finance from Frankfurt School of
Finance and holds the Chartered Institute of
Management Accountant (CIMA) qualification. Ken is
also a seasoned Real estate investor. Ken has previously
served on several boards including the Lusaka Stock
exchange, the CEC Staff Pension Scheme and the
GIDEON NANGOLO
International School of Lusaka.
CHIEF EXECUTIVE
OFFICER

Salomo Festus has over 14 years experience in the

Financial Services industry and audit. Ngosa is a
chartered accountant holding the ACCA qualification
and has a degree in Accounting and Finance. She
served as Chief Financial Officer of Madison Finance
Limited and Finance Director of Bayport Financial
Services Limited. She served as audit Manager for
Deloitte and Touché.

SALOMO FESTUS
MARKETING OFFICER
Otjomuise Community Lifestyle Office: +264 81 278 4487 info@altus.co.zm
Estate, Block 9, Unit 21, Windhoek

Waima Financial Services Company Profile © 2021