The Old Mutual Foundation says it has received over 400 applications for the Old Mutual Sustainable, Economic, and Empowerment Drive (OM SEED) initiative and has now shortlisted the top 30 candidates.
This comes as 10 candidates were shortlisted from the three participating regions of Kavango East, Hardap, and Erongo region.
“We are thrilled to present the top 30 shortlisted candidates for OM SEED 2.0. These entrepreneurs have displayed remarkable ingenuity and dedication, and we believe that their ventures have the potential to make a lasting impact on Namibia’s entrepreneurial landscape,” said Mignon du Preez, Old Mutual Namibia Group Marketing, Public Affairs, and Sustainability Executive.
Over the next three weeks, the Old Mutual Foundation team will travel to the three regions to assess the 30 businesses, aiming to select the top three candidates who will each receive funding to boost their businesses.
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 overall impact of OM SEED will extend to nine entrepreneurs, with a total funding allocation of N$300,000.
Launched in 2022, OM SEED is a partnership between Old Mutual Foundation and the United Nations Development Programme (UNDP) Accelerator Lab. It 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 Namibia.
By offering capital and incubation support, the Old Mutual Foundation aims to empower aspiring entrepreneurs to realize their full potential and make a lasting positive impact on their communities.
The Old Mutual Foundation seeks to empower 42 entrepreneurs in all 14 regions by the end of 2025 through OM SEED.
