The Development Bank of Namibia (DBN), Agribank and the Environmental Investment Fund (EIF) will oversee the operations of the National Youth Fund, Minister of Finance Erica Shafudah has confirmed.
She said the three development finance institutions will manage applications, disbursements and support mechanisms for young entrepreneurs.
Shafudah explained that a Memorandum of Understanding (MoU) between the Ministry of Finance and the development finance institutions has already been signed.
She added that the institutions are currently conducting appraisals of submitted projects, with several having met the minimum required standards.
The projects will be announced at the official launch on 29 September, while assessments of the remaining applications will continue beyond the launch.
“At the launch on Monday, there will already be awards to specific projects that have been assessed, just to give assurance to the public that the government, through these three entities, has now started with the implementation or operationalisation of the National Youth Fund,” she said.
“I believe it will be very exciting, because when we said we were going to do a pilot, people thought that this was the end of the game.”
According to Shafudah, government has allocated N$257 million from the 2025/26 national budget to the fund, which is dedicated to supporting Namibians aged 18 to 35 in their entrepreneurial ventures.
Applications for the fund opened on 1 August and closed on 4 September 2025. During this period, 6,971 applications were received from 12 regions, although submissions from Khomas and Ohangwena are still outstanding.
Of the total applications, 4,622 were for general projects to be administered by DBN, 2,200 for agricultural projects under Agribank, and 149 for eco-friendly initiatives through EIF.
The Minister stated that the fund will operate over a five-year period, from 2025/26 to 2030, providing financing, mentorship and coaching to help youth enterprises grow from start-ups into sustainable businesses.
Shafudah noted that eligibility is currently restricted to applicants aged 18 to 35, but government may consider reviewing this threshold in future depending on demand and outcomes during the initial rollout.
“Maybe they need to be capacitated. So it is a subject that is receiving our attention. We will come back to the nation again to see what we can consider, but for now, we want to give an opportunity to those aged 18 to 35,” she said.
