The Municipality of Swakopmund, in partnership with Langer Heinrich Uranium Mine, has officially concluded the Youth Entrepreneurial Development Initiative.
The programme has empowered a total of 85 young entrepreneurs across various business sectors.
President Netumbo Nandi-Ndaitwah has directed the Ministry of Urban and Rural Development (MURD) and the National Planning Commission (NPC) to prioritise initiatives by youth entrepreneurs which seek to tackle Namibia's housing backlog.
A youth entrepreneurship and Small and Medium Enterprises (SMEs) workshop held in Keetmanshoop on Friday addressed the issue of poor business plan skills, which is a major barrier to many young people's access to the National Youth Development Fund.
Twenty-five trainees from the Namibia College of Technology and Vocational Training (NCTVT) pitched their business plans in Windhoek as they await their assessment results and toolkits in August.
The Swakopmund Municipal Council, in partnership with Langer Heinrich Uranium Mine, has launched the Youth Entrepreneurial Development Initiative (YEDI).
With a N$1 million investment, YEDI aims to empower young people by providing the tools and support to start and grow businesses.
The Cabinet approved the common guidelines for the operationalisation of the National Youth Fund, which include an initial outlay of N$257 million and subsequent yearly official subventions.
To boost small and medium enterprises, the Tobias Hainyeko constituency office has donated business equipment to eighteen entrepreneurs valued at N$277,000.
The businesses funded are fashion design, welding services, bakeries, fitness gyms, butchery, catering, and beautification services.
Erongo Governor Neville Andre says young entrepreneurs who have dared to dream, take risks, and challenge the status quo represent the driving force behind economic growth and development, contributing not only to their personal success but also to the advancement of society as a whole.
