The government has revised the eligibility criteria for the Namibia Youth Development Fund (NYDF), expanding the age limit to 45 years in an effort to promote inclusivity and support a broader range of entrepreneurs.
According to Minister of Finance, Ericah Shafudah, the decision recognises that entrepreneurship develops progressively from early adulthood into mid-career and aims to assist Namibians at different stages of their business journeys.
“In addition, the Government has revised the NYDF age eligibility criteria to promote greater inclusivity and empowerment. Recognising that entrepreneurship evolves from early adulthood into mid-career, the Fund is now open to Namibians aged 18 to 45,” said Shafudah.
During the pilot phase, the Fund received 11,475 applications from across the country.
Following a rigorous assessment process, 42 projects valued at N$14.78 million were approved and officially announced at the NYDF launch.
The approved projects span all 14 regions and are currently being disbursed as the three implementing Development Finance Institutions (DFIs) finalise their internal approval procedures and engage with beneficiaries.
Meanwhile, the remaining applications are still under review, with the evaluation process expected to conclude by November 2025.
“Once this process is completed, feedback on the status of each application will be communicated to all applicants, and consolidated results will be shared with the respective Offices of the Regional Governors,” said Shafudah. She added that to further strengthen youth empowerment, incomplete or unsuccessful applications will be channelled into training, mentorship and coaching programmes to enhance applicants’ readiness for future funding opportunities
