The Namibia Investment Promotion and Development Board (NIPDB) says it aims to empower 3,000 micro, small and medium enterprises (MSMEs) under its flagship Know2Grow (K2G) High Potential Pool initiative.
NIPDB Executive Director for MSME Development, Innovation, and Acceleration Dino Ballotti said the board’s ambitious goal is to empower 3,000 MSMEs by the conclusion of the current year.
“Through the High Potential Pool, the NIPDB aims to contribute to the creation of a cohort of future-focused, resilient MSMEs that play an integral role in propelling Namibia’s economy forward,” he said.
At present, the High Potential Pool encompasses approximately 60 MSMEs representing various sectors, including cosmetology, food processing, and manufacturing, from across the country.
Over 20 export-ready MSMEs have already reaped benefits from this initiative, having been chosen to partake in international events dedicated to investment promotion.
Notable among these were the Annual Investment Meeting held in Abu Dhabi in May of this year and Africa’s Big 7 exhibition hosted in Johannesburg in June.
Furthermore, a select group of 12 MSMEs is set to participate in the Intra-Africa Trade Fair’s Creative Africa Nexus (CANEX), slated for November 2023 in Cairo.
This comes as Nedbank Namibia and NIPDB have formed a significant partnership to propel small and medium-sized enterprises (SMEs) to the forefront of economic recovery through financing and skill monitoring.
Nedbank Namibia Head of Small and Medium Enterprises (SMEs), Sam Ikela said through their sponsorship of the transformative High Potential Pool initiative, Nedbank Namibia underscores its resolute dedication to nurturing SME development within the country.
The High Potential Pool extends a valuable opportunity package to eligible members for a span of 36 months.
In a significant gesture, Nedbank has pledged a substantial sponsorship of N$100,000 to the High Potential Pool, which will be formally conferred during an eagerly awaited ceremony on 10 August 2023.
“By tapping into global markets and harnessing the potency of international connections, these businesses can genuinely unlock their growth potential. Moreover, Nedbank’s keen interest in sectors such as green hydrogen ensures robust support and guidance for MSMEs seeking to contribute to the green energy transition,” he affirmed.
This corporate ethos finds embodiment in the bank’s robust support for SMEs, wherein loans ranging from N$50,000 to N$10 million are extended.
This commitment is further amplified by their endorsement of the NIPDB High Potential Pool. Operating under the Know2Grow umbrella, this innovative program seeks to expedite the growth trajectory of promising, export-ready Micro and Small businesses.
The program achieves this through international business linkages, trade missions, participation in international trade fairs, coaching and mentoring, as well as product testing, certification, and licensing, coupled with business model and process enhancement, where deemed necessary.
