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Oshikoto projects get N$520 000 funding

26/06/2018
by Rodney Pienaar
Business

Income generating projects in different constituencies of Oshikoto region were funded to the tune of N$528 846 through the micro finance programme during the 2017/18 financial year. 

Altogether, about eight projects in rural areas have benefited from the funding, the officer of the governor of Oshikoto region Henock Kankoshi has said. 

“The region consistently strives to enhance economic development mainly through the constituency development committees and regional development coordination committee. Oshikoto has anchored hope on micro-financing to advance economic development and withstand the headwinds of the country’s dwindling economy,” Kankoshi has said. 

He added that in addition N$634 616 was funded through the Rural Employment Scheme amongst constituencies with an aim of empowering previously disadvantaged groups such as women and marginalised communities. 

However, the office could not provide the exact figure of how many jobs have been created so far through the scheme. 

Furthermore, a funding of N$187 550 from the urban and rural development ministry was disbursed to potential entrepreneurs for employment creation purposes, the governor’s office said. 

Under the gender ministry, an amount of N$235 704.92 was spent on income generating activities through 14 projects in 11 constituencies of the region. 

“As per the income generating activities guidelines 75% of the said amount was allocated to women while 25% was allocated to men,” Kankoshi stated. 

He added that about seven enterprises in the region were successfully provided loans through the Credit for Youth Business by the Oshikoto Regional Youth Forum of the National Youth Service with an amount of N$ 43 000.