SME fund launched to boost economy

Namibia has launched a new grant fund aimed at boosting the growth of small and medium-sized enterprises (SMEs), with a specific focus on businesses led by women and young entrepreneurs.The initiative, known as the SME Fund, will offer grants ranging from N$50 000 to N$100 000 to eligible local firms.Organisers say the money is intended to help businesses expand, create jobs, and become more competitive both locally and internationally.The fund is a joint partnership between the Namibian government and Germany. It is being implemented by Namibia's National Planning Commission and the Namibia Investment Promotion and Development Board (NIPDB), alongside GIZ, the German government's development agency.To qualify for the funding, businesses must be at least 51% Namibian-owned and have an annual turnover of less than N$10 million.Officials stated that the fund will target high-potential sectors of the economy, including agriculture, tourism, manufacturing, and information technology.Unlike traditional financial assistance schemes, the project organizers say this initiative will combine direct cash grants with long-term business mentorship, training, and support to help companies access new export markets.Jessica Hauuanga, the acting chief executive of the NIPDB, said the fund represents a deliberate effort to invest in the long-term competitiveness of Namibian enterprises."By combining targeted grant funding with business development services and market access opportunities, we are equipping small businesses with the capacity they need not just to survive, but to grow," Ms Hauuanga said.The project is being financed by the German Federal Ministry for Economic Cooperation and Development (BMZ).Tobias Gerster, the GIZ country director for Namibia, said the two nations were working together to build a resilient financial sector that supports long-term prosperity.Applications for the first cycle of funding opened on 10 June and will close on 24 July 2026.

SME fund launched to boost economy

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Republikein 2026-09-17

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SME fund launched to boost economy

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Republikein 2026-09-17

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