By:Nghiinomenwa-vali Erastus
The Old Mutual Sustainable, Economic and Empowerment Drive (OM SEED) will be extended to Rundu, Swakopmund, Walvis Bay and Mariental, the Old Mutual Foundation announced in a statement last week.
An amount of N$300,000 will be distributed to entrepreneurs in the four towns.
The Foundation has invited aspiring entrepreneurs in the four towns and surrounding areas to seize this opportunity and submit their applications.
It said by harnessing the power of entrepreneurship and sustainable business practices, “we can collectively work towards a brighter future for all Namibians”.
The initiative is a collaboration between Old Mutual Foundation and the United Nations Development Programme (UNDP) Namibia Accelerator Lab.
Launched in 2022, the OM SEED aims to support grassroots entrepreneurs by providing them with the necessary resources to establish inclusive and sustainable businesses that contribute to job creation and skills development across the country.
The programme offers capital and incubation support to aspiring entrepreneurs to realise their full potential and make a lasting positive impact on their communities.
The goal of OM SEED is to empower 42 entrepreneurs in all 14 regions by the end of 2025.
After the impact achieved in Windhoek, Keetmanshoop and Oshakati last year, the Foundation said it is extending the initiative to Rundu, Swakopmund, Walvis Bay and Mariental.
It said the towns have been strategically selected to foster entrepreneurship, create value within local communities, and address the United Nations’ Sustainable Development Goals (SDGs).
Old Mutual Namibia Group’sChief Executive Officer Tassius Chigariro explained that entrepreneurship is the key to unlocking a brighter future for Namibia.
Chigariro said that through initiatives like OM SEED, “we empower grassroots entrepreneurs to create inclusive and sustainable businesses that drive economic growth, job creation and community development”.
He added: “Together, the country can cultivate a thriving entrepreneurial ecosystem that addresses the United Nations’ SDG and paves the way for a prosperous Namibia.”
Mignon du Preez, the Group’s Marketing and Sustainability Executive, highlighted that the Foundation will officially kick off the programme from 3 July to 17 July 2023.
Application forms will be available at Old Mutual branches in the participating towns, as well as on the company website.
“We look forward to seeing how our grassroots entrepreneurs assist in addressing one of the SDGs, especially with less than seven years left before we are expected to achieve them,” Du Preez said.
As part of the selection process, a team from the Old Mutual Foundation will visit the businesses of the ten shortlisted entrepreneurs in August 2023, and the top three candidates in each town will be identified as the winners who will receive financial support and incubation assistance.
In each town, three winners will be selected, with the first prize amounting to N$50,000, the second prize valued at N$30 000, and the third prize at N$20,000.
The grants are aimed at playing a pivotal role as catalysts, empowering the winners to scale their businesses, generate more employment opportunities, and make substantial contributions to the economic growth and development of Namibia.
Unomasa Kavita, the Founder of Kavita Sports Performance and one of the winners of the 2022 OM SEED programme, expressed his gratitude for the impact it had on him.
He highlighted how the programme provided him with the opportunity to collaborate with industry experts who played a crucial role in the further development of his business.
Diana Nakuumbe, the Founder of Eembe Jam, and another winner of the 2022 programme, enthusiastically encouraged aspiring entrepreneurs to participate in the OM SEED.She emphasized on the value that participants would gain from the programme, as she relates to the transformative impact it had on her own business journey.Email: erastus@thevillager.com.na
Old Mutual And UNDP Extend SEED Funding To More Towns
