TIRI MASAWI
Prime Minister Elijah Ngurare yesterday said about 11,475 applications were received from youth run businesses who want to access capital from the National Youth Development Fund.
He described the unemployment situation in the country as ‘sobering.’
The Fund is capitalised at N$500 million, with N$257 million already allocated in the 2025/26 financial year to l address the gaps that have held back youth entrepreneurship.
Speaking at the launch of the programme in Omaheke, Ngurare said the response ids overwhelming since the application process was opened between 1 August and 4 September 2025, the response was overwhelming. In just over a month,
“11,475 applications were received from all 14 regions of our country. 6,111 projects were assessed by the Development Bank of Namibia, 5,070 agricultural applications by Agribank, and 294 eco-friendly projects by the Environmental Investment Fund.
“I am happy to announce that out of this number, 391 applications were received from the Omaheke Region. It demonstrates that the young people of Omaheke are ready to seize opportunity.
From these, 42 successful projects, 3 from each of the 14 regions, will be announced today. This does not mean out of 11,475 applications, only 42 will be beneficiaries of the N$250 million Youth Fund,” Ngurare said.
He said only 42 successful beneficiaries were selected for announcement at the launch while more successful applicants are yet to be announced.
“All beneficiaries will undergo entrepreneurship training to prepare them for success. The financing model is inclusive and responsive. Start-ups may access between N$60,000 and N$200,000 at 2% interest. Growth-phase enterprises between N$200,000 and N$1 million at 3% interest. Expansion
enterprises above N$1 million at 4% interest,” he said.
He added that a grace period of up to 12 months will be given to allow businesses to grow before repayment begins
“. There are no collateral requirements. Let this be clear. The criteria is that the youth fund must be clear and must be youth friendly. If and when we find that the criteria are not helpful, let’s change them for the benefit of the Namibian youth,” Ngurare said.
Ngurare said towns and villages in Namibia are filled with ideas, creativity, and energy.
“But the reality of youth unemployment in our country is sobering. At the same time, Namibia’s ranks in global entrepreneurship indices shows a relatively weak entrepreneurial ecosystem, characterised by a high rate of necessity entrepreneurs as opposed to sustainable opportunity driven entrepreneurship.
“The barriers are well known. They are a lack of finance, inadequate skills and limited access to markets. The need for funding is among the top four challenges along with startup skills, technology absorption and process innovation,” he said.
COMMENTS