Standard Bank Namibia, in partnership with the Namibia Investment and Finance Academy (NIFA), has launched a four-month pilot initiative to support 40 Namibian micro, small and medium enterprises (MSMEs) through mentorship and masterclasses under the Blue Growth Series.
The 40 businesses were selected from a pool of 696 applicants.
Speaking at the launch, Rodney Coetzee, Head of Enterprise Direct at Standard Bank Namibia, said the programme was designed to strengthen the country’s small business sector.
“MSMEs are the engine of Namibia’s economy. Through this programme, we are enabling entrepreneurs to shift from survivalist operations into sustainable, growth-driven businesses. Supporting their development is a direct investment in the future of our nation,” he said.
Coetzee added that the initiative aligns with Namibia’s Vision 2030 and the Sixth National Development Plan (NDP6), focusing on job creation, financial inclusion and long-term economic growth.
The programme also places emphasis on inclusivity, with at least 50% female participation and strong representation from youth and informal businesses.
Arinze Okafor, CEO and Founder of NIFA, said the selected enterprises reflect Namibia’s diverse economy, ranging from early-stage and informal ventures to growth-stage and established SMEs.
“NIFA exists to unlock knowledge and equip Namibian entrepreneurs with practical tools. The diversity of participants – women, youth, and informal businesses – reflects the energy and potential of our entrepreneurial ecosystem. This pilot is about building resilience, ownership, and bankability for long-term success,” Okafor said.
The informal businesses include those in hair and beauty, retail, technology repairs, food and beverage, agriculture, crafts and educational technology, while formal and growth-stage businesses span technology, services, manufacturing, construction, retail, media, catering and agriculture.
The Blue Growth Series aims to tackle barriers faced by local entrepreneurs, such as limited access to finance and business management skills.
According to Standard Bank and NIFA, the programme is designed to build a pipeline of “bankable, market and investment-ready MSMEs” and strengthen financial inclusion by helping entrepreneurs engage confidently with financial institutions.
Participants will complete more than 40 hours of structured training over two monthly sessions, covering areas such as financial governance, bookkeeping, business modelling, value scaling, entrepreneurial mindset, networking, cost management, revenue optimisation, AI and marketing fundamentals, compliance, access to financing, investment readiness, growth strategy and innovation.
Each entrepreneur, according to Standard Bank and NIFA, has undergone a psychometric assessment to create a tailored development plan.
The programme also includes Bloomberg Finance Lab and Harvard ManageMentor certifications to improve the competitiveness of participants. Although the pilot is limited to 40 MSMEs, Standard Bank and NIFA said there are plans to expand the initiative in future phases.
