The government has launched the National Youth Development Fund (NYDF), with 42 youth-owned projects valued at N$14.78 million announced as the first beneficiaries.
Prime Minister Elijah Ngurare, officiating at the launch in Gobabis, said the N$500 million fund, with N$257 million allocated in the 2025/26 financial year, will provide affordable loans and grants to youth enterprises across all 14 regions.
“From these, 42 successful projects, 3 from each of the 14 regions, will be announced today. This does not mean out of 11,475 applications, only 42 will be beneficiaries of the N$250 million Youth Fund,” Ngurare said.
According to the Prime Minister, the successful projects were selected from 11,475 applications received during the pilot phase and have the potential to create 315 jobs.
He said start-ups will access between N$60,000 and N$200,000 at 2% interest, while growth and expansion enterprises will qualify for up to N$1 million at slightly higher rates.
The fund requires no collateral and includes a grace period of up to 12 months before repayment begins.
Projects from across the regions received between N$80,000 and N$1 million, covering farming, renewable energy, auto repairs, welding, gemstones, leather processing, fisheries, recycling, media, butchery, brick manufacturing, film production and logistics.
Youth cooperatives in Kunene and Oshana also benefited, alongside poultry, agriculture and creative industry projects in Khomas.
Ngurare said beneficiaries will undergo entrepreneurship training, while unsuccessful applicants will be supported through capacity building.
“The criteria is that the youth fund must be clear and must be youth friendly. If and when we find that the criteria are not helpful, let’s change them for the benefit of the Namibian youth,” he said.
The fund will be managed by the Development Bank of Namibia, Agribank and the Environmental Investment Fund, with NamPost expected to join.
Contributions from NamibRe, DBN, NIPAM and international partners such as the African Development Bank and the United Nations will support its sustainability.
