Eight Namibian firms supported through the Stanford Seed Network have generated a combined revenue of US$19 million (about N$351 million), raised US$4.5 million (around N$83 million) in capital, and created 238 jobs.
The initiative, backed by De Beers Group and the Stanford Graduate School of Business, aims to scale local enterprises into sustainable contributors to national development.
According to Bakang Phuthego, Stanford Seed Network Manager at De Beers, the programme’s impact is set to grow as more Namibian businesses join future cohorts.
“If this number grows to 12 or 24 firms in the coming years, the impact will be significant,” he said.
Phuthego said the programme, which forms part of De Beers’ Building Forever sustainability strategy, supports entrepreneurs across all sectors. The most recent cohort includes firms from manufacturing, logistics, mining and education.
“Namibian firms are increasingly forming joint ventures and engaging in peer-to-peer learning within the programme. Participants receive mentorship and global exposure to strengthen business performance and long-term resilience,” he said.
He added that one of the programme’s strongest advantages is access to a global network of more than 1,000 business leaders across Africa and Asia. “Entrepreneurship is often a lonely journey.
The network allows founders to connect, collaborate and grow together,” he said.
Phuthego noted that nearly half of the programme’s participants raise capital after completing the course, while 40% do business among themselves, contributing to increased revenue and job creation.
He said the partnership between De Beers and the Stanford Graduate School of Business provides world-class business training to Southern Africa.
“We are taking some of Stanford’s best business principles and supporting entrepreneurs in emerging markets, including Botswana, Namibia and South Africa,” he said.
Ombu Capital Founder Vetumbuavi Mungunda, an alumnus of the Stanford programme, said the experience blends theory with practical business development.
“You still have access to world-class faculty, and professors from the Stanford Graduate School of Business travel to teach business owners in person. That’s a key differentiator,” he said.
He added that involving entire management teams helps ensure that lessons are applied within the business.
“The team goes through a one-year programme covering lectures, best practices and practical exercises, and by the end they must develop a new business strategy based on what they’ve learned,” he said.
Mungunda also highlighted the value of networking across the continent.
“My cohort included 108 businesses from across Africa. Through this, we built connections, shared ideas and explored opportunities in different countries,” he said.
De Beers Vice President for Social Impact and Sustainability, Otsile Mabeo, said the Seed initiative supports the group’s sustainability framework, built around livelihoods, nature and climate.
“Among them, livelihoods remain absolutely critical because they go hand in hand with the long-term wellbeing of our producer countries,” Mabeo said.
She added that entrepreneurship development is central to this objective as “entrepreneurs are key drivers of job creation, business expansion and competitiveness in global markets”.
The Stanford Seed Network continues to expand its presence in Namibia, with additional programming expected in 2026 to support more aspiring and growing entrepreneurs.
