The National Youth Development Fund (NYDF) has received 698 funding applications from the Khomas Region worth nearly N$300 million, according to the Agricultural Bank of Namibia (Agribank).
Speaking during an Information Sharing Session hosted by the Office of the Governor of the Khomas Region, Agribank Inspection Officer overseeing the NYDF, Mathilde Akwaake, said 12 enterprises valued at N$7.9 million have been approved under the fund, with financing already disbursed to 10 projects.
“The appetite among Khomas youth is already substantial. At Agribank alone, the NYDF has attracted 698 applications from the region valued at almost N$300 million, of which 12 enterprises worth N$7.9 million have been approved and 10 disbursed, with the funded projects expected to create close to 2,900 jobs,” Akwaake said.
The NYDF is a government initiative administered by the Ministry of Finance and delivered through Agribank, the Development Bank of Namibia (DBN) and the Environmental Investment Fund (EIF). The programme provides concessional loans at interest rates of between 2% and 4%, without requiring collateral, to Namibians aged between 18 and 45.
Akwaake said applicants are required to submit comprehensive business plans and operate within the fund’s priority sectors, including agriculture, agro-processing, manufacturing, value addition and environmentally sustainable projects.
“We focus on agriculture, agro-processing, product manufacturing and value addition. For livestock projects, there must be a value-addition component,” she said.
She explained that successful applicants undergo business assessments, compulsory training and contract signing before funding is released, with Agribank also issuing recommendation letters where required.
Akwaake said the bank has 364 applications that have completed preliminary assessments and are ready for submission for approval, representing projects worth approximately N$83 million.
“So far, we have 364 projects that have been pre-assessed and are ready for submission. These will require about N$83 million,” she said.
She acknowledged that processing delays had affected some applications but said the backlog had largely been cleared, allowing approvals to progress more efficiently.
“We had the constraint of a backlog, but it has now been addressed and the process is moving forward,” Akwaake said.
She called on government institutions and other stakeholders to strengthen awareness campaigns and mentorship programmes to ensure more young entrepreneurs, particularly those in remote communities, are aware of the financing opportunities available through the fund.
Khomas Regional Governor Sam Nujoma said the NYDF was already delivering tangible results.
During its pilot phase, regional enterprises including Vertical Studio (film production), Willem Technologies (logistics) and Anangkazo Farming and Trading (poultry) received financing to expand their operations.
He added that Agribank and the EIF have approved a combined N$4.8 million for six enterprises in the region, supporting horticulture, mixed and sustainable crop farming, renewable energy and green transport projects.
Nujoma also highlighted complementary financing opportunities available to young entrepreneurs.
The NIPDB-GIZ ProSME SME Fund is offering grants of between N$50,000 and N$100,000, together with business development and market access support, with applications for the first funding window closing on 24 July 2026.
He said the Namibian Agronomic Board’s N$250 million Crop Value Chain Development Strategy is also rolling out dedicated potato, fruit and grain irrigation support programmes to boost local production and create opportunities for young farmers.
The governor further urged greater support for informal businesses, saying food vendors, tailors, hairdressers, welders and fresh produce traders already possess viable businesses but require support to transition into formal, bankable enterprises.
