By Hellen Amupolo
Across the world, women are reshaping economies. According to global entrepreneurship data, women started almost half of all new businesses in 2024, marking a 69% rise since 2019. Sub-Saharan Africa now holds the highest female entrepreneurial activity rate globally at 26%, according to the Harvard University Centre for African Studies.
This surge reflects extraordinary ambition, even as women continue to face systemic barriers.
According to the Global Entrepreneurship Monitor, women remain 47% more likely than men to close a business due to family or personal pressures, and they continue to encounter challenges accessing finance and formal market networks. These realities mirror the experiences of many Namibian entrepreneurs, which is why the Standard Bank Blue Growth Series has become a strategic national intervention rather than a routine training programme.
The response to the initiative was exceptional. According to programme data, 695 entrepreneurs applied, almost half of them women, demonstrating the scale of demand for structured support, financial literacy and market access. Many women-led MSMEs progressed from informal operations into full compliance, with several completing statutory registrations and opening business accounts, according to the programme’s formalisation outcomes. This shift is significant because formalisation enables women to tender, access finance and enter value chains, strengthening Namibia’s productive capacity.
Knowledge exposure also played a central role. Every participant completed Bloomberg Financial Foundations, and three received Harvard ManageMentor certification, including a woman leading a construction company, according to the programme’s certification records. These global learning opportunities enhance decision-making, competitiveness and leadership credibility.
Crucially, the programme aligned with broader continental ambitions. According to the B20 Africa Special Report, empowering MSMEs and women is essential to unlocking inclusive trade under the African Continental Free Trade Area. The Blue Growth Series supported this by connecting entrepreneurs to trade specialists and policy leaders, preparing them to compete regionally and beyond.
Yet significant funding disparities persist. According to recent global investment data, women receive only 0.4 per cent of venture capital worldwide and African women access 13% less credit than men. These structural inequities underscore why Standard Bank continues to invest in platforms that strengthen bankability and financial confidence among women entrepreneurs.
When women succeed, entire communities advance. They reinvest into households, create employment and enhance economic resilience. Their growth is not peripheral to Namibia’s future; it is central to it. As we open applications for the next Blue Growth Series cohort, we remain fully committed to supporting the women who are driving Namibia’s next wave of economic transformation. In the spirit of this year’s global International Women’s Day theme, Give to Gain, our investment in women is also an invitation for Namibia to recognise that when we give women opportunities, we gain a stronger, more inclusive economy.
Their ambition shapes our nation. Their progress strengthens our economy. And we stand with them, because Namibia is our home, and we drive her growth.
* Hellen Amupolo, Standard Bank Head of Business and Commercial Banking
