The Namibia National Reinsurance Corporation (NamibRe) has become the first entity to contribute to the newly established Namibia Youth Fund, donating N$5 million to support youth entrepreneurship and job creation.
The fund was introduced as part of the SWAPO Party’s 2024 Election Manifesto, which outlined its establishment under the Ministry of Finance as a key intervention to address rising youth unemployment and promote economic opportunities for young people.
“Today, NamibRe makes a historic commitment: a donation of N$5 million to the Namibia Youth Fund, in full support of our government’s vision to unlock the potential of young Namibians through entrepreneurship and job creation,” said NamibRe Board Chairman, Faniel Kisting.
Kisting said the donation represents more than just financial support, describing it as an investment in the country’s future. He urged other organisations in both the public and private sectors to contribute to the fund.
“This contribution is an investment in possibility, in ambition, and in the future architects of Namibia’s prosperity. We challenge you to join us. Match us. Exceed us,” Kisting said.
Speaking at the same event, Minister of Finance and Social Grants, Ericah Shafudah, said the government had chosen to take a broad, integrated approach to addressing youth challenges through the launch of the National Youth Development Fund. The initiative is aimed at improving economic access and creating employment opportunities for young people.
Shafudah noted that while the fund on its own would not resolve all the issues faced by Namibia’s youth, it was designed to serve as a catalyst to attract further investment and ensure the full participation of young people in the country’s economy.
“When you responded to my call to make a difference during these 100 days, it truly meant a lot. The N$5 million contribution to the National Youth Development Fund is that difference. It marks the first capital contribution from a state-owned enterprise. Through this act, the message has been clearly shared – Namibia’s youth are an essential part of the nation’s future,” she said.
While no specific timelines have been set for the full implementation of the initiative, including the Support to Apprenticeship Programme and the National Youth Fund, together aim to create 52,087 jobs over the next five years, with a planned budget of N$10 billion.
The government is expected to continue engaging other institutions to support the fund, which is positioned as a long-term solution to youth unemployment and a platform to stimulate youth-led enterprises across Namibia.
