By: Patemoshela Lukolo
Business and economic leaders have expressed cautious optimism over the recently announced N$257 million National Youth Fund (NYF), describing it as a potential game-changer for youth entrepreneurship if managed effectively.
Businessman Johannes Robert, a boilermaker by profession, welcomed the initiative, saying it could give aspiring entrepreneurs the start they desperately need.
“Many of us in vocational trades face challenges in acquiring machinery or land. If this fund is genuinely managed for the youth, it will create opportunities for prosperity,” Robert told Eagle FM.
Moreover, Robert, who built his company from scratch, stressed that minimal bureaucracy would be key to the fund’s success. He explained that he plans to expand his operations and employ more young people once financial support becomes available.
In addition, he encouraged graduates and skilled youth not to wait for formal jobs, but to “start with what you have.” He also advised them to build networks with established business owners and register their businesses, noting that formalisation makes it easier to apply for loans and access tenders.
Meanwhile, economist France Peter also welcomed the fund, but raised concerns about how it will be distributed. The current model allocates 60% of resources to existing SMEs and 40% to start-ups.
However, Peter argued that this split could disadvantage young entrepreneurs with strong ideas but no capital. “A 50/50 allocation would strike a fairer balance between supporting established businesses and helping new enterprises take off,” he said.
He also stressed the importance of strict oversight, including credit checks and accountability measures, to ensure sustainability and to avoid failures similar to the SME Bank’s collapse.
“Financial aid alone is not enough,” Peter added. “Government should also provide non-financial support, such as subsidies for electricity, which would ease the burden on start-ups,” he concluded.
Against this backdrop, the Ministry of Finance recently confirmed the allocation of N$257 million for the establishment of the NYF. The initiative seeks to reduce Namibia’s 44.5% youth unemployment rate by providing both financial and non-financial support to young entrepreneurs, with the ultimate goal of stimulating job creation and driving economic growth.
In summary, both business and economic voices agree that the fund holds promise, but its impact will depend on how it is rolled out. Transparent management, fair access, and complementary support will determine whether the NYF becomes a genuine engine of empowerment or another missed opportunity.
