Today, the Development Finance Corporation celebrated 50 years of service to the Belizean people, and on the anniversary, all offices countrywide began an effort to rebrand the company's logo and reputation.
The lending institution wants to increase its reach with the Belizean people, and as a result, they conducted a survey to find out how the public views the organization. After that survey, they came up with the new image that they want associated with their brand, and today, they held an unveiling.
Our colleagues at CAN Network attended that event, and they spoke with the DFC General Manager. She told them about what this new logo represents given the fact that DFC had serious challenges all the way up to 2009:
Natalie Ewing Goff - General Manager, DFC
"The transition has been tremendous. When we resume lending in 2009 the corporation as you all know had suspended lending since 2005 and absolutely no monies went into loans from the corporation."
"We were making losses; we had significant amounts in write-off portfolio. I can tell you 4 years later - 50 months later, on our 50th Anniversary we are a profit making organization. We broke even in 2011 and we made a resounding profit - operational and overall profit in 2012 and well on our way to another profitable year."
"The entire government has supported in that they have kept out of the day to day operations of the DFC and has let the private sector run the organization. The organization is still government owned - government is the sole shareholder, but it is manage by a board of 5 private sector who has the majority on the board of directors. You should expect a more nimble DFC - a DFC who is relevant. A DFC who is looking at the financing needs of this growing economy of ours who is responding."
Yesterday, the Belize Social Security Board approved a 20 million-dollar line of credit to the Development Finance Corporation.
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