Africazine:
Namibia’s youth entrepreneurship faces challenges as fund uptake remains low.
Prime Minister Elijah Ngurare highlighted the underutilization of the National Youth Development Fund, which was launched last year with a budget of N0-million. He urged young entrepreneurs to leverage this fund to establish and expand their businesses.
Government Encourages Youth to Utilize Development Fund
The National Youth Development Fund aims to empower young Namibians by providing financial support for business ventures. Despite its potential, the uptake has not met expectations, prompting Ngurare to call for increased participation from the youth.
During a recent engagement at David Bezuidenhout High School, Ngurare emphasized the importance of local production, particularly in sectors like school uniforms. He encouraged young entrepreneurs to seize the opportunities available in Namibia, rather than relying on imports.
Prime Minister’s Call for Local Business Growth
Ngurare’s message was clear: young entrepreneurs must protect their brands and reputations. He stressed that their businesses represent their hard work and dedication, urging them to guard their interests fiercely.
The Prime Minister’s engagement with local business operators reflects a broader initiative to foster a culture of entrepreneurship among the youth in Namibia.
Next Steps for Young Entrepreneurs in Namibia
- Increase awareness and participation in the National Youth Development Fund.
- Encourage local production of goods to reduce reliance on imports.
- Promote networking opportunities among young business owners.
Namibia’s youth must seize the opportunities presented by the National Youth Development Fund to drive local entrepreneurship.
