WINDHOEK, June 12– Namibia on Thursday launched a new micro, small and medium enterprises (MSME) fund to support local businesses and promote inclusive economic growth.
The fund forms part of the Promotion of Small and Medium Enterprises Development in Namibia Project, which is implemented by the National Planning Commission, the Namibia Investment Promotion and Development Board (NIPDB), and Deutsche Gesellschaft fur Internationale Zusammenarbeit, with funding from the German Federal Ministry for Economic Cooperation and Development.
According to the NIPDB, eligible enterprises may receive grants ranging from 50,000 to 100,000 Namibian dollars (about 3,000 to 6,000 U.S. dollars), along with business development services and market access support.
NIPDB Acting Chief Executive Officer Jessica Hauuanga said the fund is aimed at strengthening the long-term competitiveness of Namibian enterprises.
“By combining targeted grant funding with business development services and market access opportunities, we are equipping MSMEs with the capacity they need not just to survive, but to grow, create employment, and compete both at home and globally,” she said.
The fund is open to registered Namibian micro, small and medium enterprises with an annual turnover of up to 10 million Namibian dollars and at least 51 percent Namibian ownership.
It will focus on high-potential sectors including agriculture, tourism, information and communication technology, and manufacturing, where small businesses can help create jobs, add local value and expand Namibia’s export base. (Namibia Daily News / Xinhua)
