By: Nghiinomenwa-vali Hangala and Patemoshela Lukolo
Various development financial institutions (DFI) have committed to add more money to capitalise the just-launched National Youth Fund (NYF).
Prime Minister Elijah Ngurare updated that the country’s reinsurance entity, NamibRe, has committed N$5 million to the fund, with the Development Bank of Namibia (DBN) committing N$18 million, and the Bank of Namibia pledging to fund 35% of the fund’s operational and endowment account.
The endowment fund will enable investment returns for the long-term sustainability of the fund.
Ngurare indicated that other governmental and non-governmental capacity-building and financial institutions have also committed their contributions towards the various beneficiaries.
The Namibia Institute of Public Administration and Management (NIPAM) has committed to providing in-kind training support for 300 youth.
The African Development Bank (AfDB) has also extended its support to the fund through technical assistance and to further refine the developmental structures pertaining to the fund.
The Youth Fund will be accessed through the Development Bank, Agribank, and the Environmental Investment Fund – the institutions that the youth have to approach for loans and other financial assistance to be offered through the Fund.
DISAPPOINTMENT AND HOPE AS YOUTH REACT TO YOUTH FUND
The rollout of the National Youth Fund (NYF) has sparked mixed feelings among young Namibians, with some voicing frustration over the process while others remain inspired to keep pursuing their business dreams.
The N$257 million initiative, launched by the Ministry of Finance to fight youth unemployment, has been both celebrated as a milestone and criticised as leaving too many behind. One of the applicants, Frieda Paulus, a vegetable grower from the north, said she was left discouraged after her application was unsuccessful.
“I feel so bad, because with all the effort I put in, I was not selected,” she said. “Some of us stay far from towns, and we spend a lot of money on transport and making copies. It was not easy, especially for us in the villages. They also didn’t give us the exact requirements, and the projects selected were too few. We had very little time, yet we were expected to have fully registered businesses, which was not realistic,” she stated.
Her disappointment echoes a common concern: the gap between rural youth and opportunities that are often centred in towns. Paulus stressed that while the fund promised to uplift young entrepreneurs, the process left many feeling excluded and disheartened.
Another applicant, who preferred not to be named, said the fund had inspired him to think big despite the setback. He hopes to establish a business that supplies fresh, locally-sourced fruits and vegetables in Ondangwa and across the Oshikoto Region.
“My dream is to provide higher quality produce to health-conscious consumers and businesses at competitive prices, and to become a leading supplier in the region, promoting sustainable farming and healthy eating,” he explained.
Economist Joseph Sheehama said while the idea behind the fund was positive, its implementation created barriers for many, especially rural youth.
“This fund came too fast. Youth in the villages struggled because they don’t have electricity or internet, and the time given by the Ministry was too short. People had to rush,” he said. “Forty-two beneficiaries out of thousands is not encouragement. The idea was great, but the implications were not properly thought through.”
He suggested that in the future, the Ministry should allow more preparation time, provide clear feedback to unsuccessful applicants, and improve communication. He further recommended that support should prioritise start-ups and small promising businesses, with assessments made on actual needs rather than one-size-fits-all funding.
“We also need outreach across the regions to educate young people on how to draft business plans, and to cut out unnecessary documentation,” Sheehama added. “Our education system has prepared many only to be employees, so without guidance, most proposals are limited to salons and bars. We must empower the youth differently,” he remarked.
While disappointment lingers among those not selected, many still see the NYF as a step in the right direction if lessons are applied in future rounds.
