The Ministry of Industrialisation and Trade is targeting to train 1,400 micro, small and medium enterprises (MSMEs) by the end of July, in an ongoing business simulation programme.
The micro-business simulation training is aimed at helping entrepreneurs learn and manage their businesses successfully.
The training is being undertaken by the Ministry in partnership with the German Sparkassenstiftung for International Cooperation (DSIK), a development-policy arm of the Sparkassen-Finanzgruppe, whose mission and objective is universal financial access worldwide.
The training will focus mainly on financial management aspects such as business planning, forecasting, record keeping, budgeting, and financial statements to enable entrepreneurs to get the know-how of business financial management.
“The goal is to enhance entrepreneurship development and deliver entrepreneurial training interventions. The partnership further aims to strengthen the capacity of MSMEs in Namibia through the provision of business simulation training workshops and enterprise development,” Industrialisation and Trade Minister Lucia Iipumbu said.
According to Iipumbu, the training is in line with Empretec Namibia’s overall objective, which is to bring about transformational change in unleashing the growth potential of MSMEs in Namibia, through the entrepreneurial behaviour modification and mindset change, skills development, and the provision of a comprehensive range of Business Development Advisory Services (BDS).
“I am confident that this training will improve the livelihood of MSMEs across the country in all 14 regions, reaching 1,400 MSMEs by July 2023. The participants to be trained include registered and unregistered MSMEs. This is simply to allow growth within the business world, by allowing the participants to learn from each other and the importance and benefits of teamwork which will lead to business stability in the country,” she said.
