Financing, market access crucial for MSME’s

PHILLEPUS UUSIKUHaving access to sufficient information on financing and market access plays a crucial role in ensuring that micro, small, medium enterprises (MSME’s) thrive both locally and internationally.The Namibia Investment Promotion and Development Board (NIPDB) on Friday, launched a 'Know2Grow' campaign to capacitate Namibian MSME’s across the country. The campaign will commence in the //Kharas region because of the low participation observed in many funding and training initiatives rolled out for the past two years.The initiative will focus on sectors such as textile manufacturing, agriculture, horticulture and food processing.It will further consider aquaculture, electronics, information communication and technology (ICT), pharmaceuticals, renewable energy and green hydrogen.Speaking at the launch, Lucia Iipumbu, minister of industrialisation and trade, notes that the initiative will compliment the pivotal role played by the ministry during the early stages of the Covid-19 pandemic when businesses were undergoing massive challenges.The ministry and NIPDB will strive to improve the business environment and conditions for businesses through initiatives covering policy, legislative, regulatory, institutional and programmes, she said.“Through the 2016 MSME national policy, we ensure appropriate definition of the sectors as well as providing guidance on how the country should support MSME’s.”However, given the economic dynamics and current realities, the ministry will soon commence with the review of the SME policy in consultation with other stakeholders once it secures the necessary funding mechanism to do so, she said.Economic growth Government and private sector at all levels, must collaborate to ensure that businesses take full advantage of various available opportunities and the thus boost economic growth.“This will ensure that we achieve our development agenda as enshrined in short and long-term development plans such as the Harambee Prosperity plan, National Development Plans (NDP’s) and Vision 2030,” Iipumbu pointed out.Namibia’s economic growth has improved remarkably since independence, however, much still need to be done to address the numerous social and economic challenges facing the country, the minister added.Economic growth is partly inhibited by Namibia’s overreliance on the primary sectors such as textile, manufacturing, agro-processing, aquaculture, ICT, renewable energy, green hydrogen and pharmaceuticals. “I am happy to note that these are specific sectors of focus by this campaign, Iipumbu concluded.-phillep@nmh.com.na

Financing, market access crucial for MSME’s

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Republikein 2025-05-01

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Financing, market access crucial for MSME’s

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