SLYOU Business Magazine: Would it be
fair to say that by launching this new
MSME Competency Unit, 1 st National
Bank has actually instituted an arm of a
development bank into its commercial
banking operations?
Johannes: I guess one can look at it
that way. The MSME Competency Unit is
actually an MSME within our bank. So it
will go through the same struggles that
our MSMEs go through. It might not even
turn any meaningful profit or contribution
to our business for years to come. But
from the Board to the management and
staff, we believe it’s the right thing to do.
It’s a way to contribute to the growth and
development of our society, so we will
stand by it.
SLYOU Business Magazine: The road that
led to the official launch of the MSME
Competency Unit seemed a challenging
one. It also took four years to get 1 st
National Bank to this point. What were
some of the challenges you encountered in
seeing the Unit through to its fruition?
Johannes: It started off in 2016 and
had its few challenges really gathering
steam and momentum. After we started
the project, Engel (an expert who was
instrumental in setting it up) passed
away, and that derailed us for a bit. But
everything we come out with and promise
to do as a bank, we aim to deliver on. We
may not get it right the first time, but
we’re committed to getting it right.
any other bank. It’s not all about taking,
but also giving back because when our
communities do well, we do well.
SLYOU Business Magazine: What message
do you have for especially Millennials
who are still facing uphill battles getting
financing for their creative ideas and
businesses?
Johannes: There is no magic pill. What
we’re aiming to do is try to make access
to finance easier. But a good business
plan alone just won’t cut it. At least you
can still come in, talk to us and we will
guide you on how you can start it off by
helping us help you secure financing.
I speak to entrepreneurs all the time and
let them know that it’s not an issue with
the banks. If you go to the United States,
for example, and look at what’s driving
the start-up scene, it’s not the commercial
banks. It’s venture capital, angel funding,
crowd funding; it’s all those avenues
that don’t yet exist out here. While we
are taking this bold step, I think there is
more we can do, and I’ll be exploring a
few more initiatives with my team and the
regulators to see how we can widen this.
There’s also the Eastern Caribbean
Partial Credit Guarantee Corporation,
which has been set up to provide partial
loan guarantees to Millennials and other
entrepreneurs who don’t necessarily have
the collateral to face a bank but have a
good plan.
Whenever I speak to the community and
markets, they should be able to trust what
I say. That’s one of the things that keep
me up because I wake up among them
every day. Because we grew up here, live
here, work here and our families are all
here, I think we have a deeper vested
interest in the success of Saint Lucia than
www.slyoumag.com | February - April 2020
SL-YOU | It’s All About Business 57