The Indigenous Peoples’ Business Forum (IPBF) says the Ministry of Industrialisation and Trade has reaffirmed the validity of a 2006 Memorandum of Understanding (MoU) between the two entities and expressed commitment to its terms.
This comes after a period of funding shortfalls that hampered the IPBF’s operations. These challenges within both the organisation and the Ministry led to a halt in government funding for the IPBF.
The financial disruption caused operational difficulties and the departure of some members who were no longer receiving the promised support.
IPBF CEO Chrisch Siririka said the renewed partnership will see both parties collaborate in several key areas, such as the promotion and advancement of the interests of Namibia’s private sector, with a particular focus on small, medium, and micro enterprises (SMMEs) and budding entrepreneurs.
“Both parties are also expected to provide the necessary support and assistance to facilitate the implementation of this MoU and to contribute to a dialogue to create the necessary environment for entrepreneurship growth,” said Siririka.
Furthermore, the IPBF will take the lead in hosting information-sharing forums and developing technical and trade capacities for Namibian business owners, ultimately enhancing their competitiveness in domestic and international markets.
This will include facilitating participation in local, regional, and international trade fairs to showcase Namibian products.
According to the newly appointed coordinator, Jatjinda Kamuhanga, the IPBF is also tasked with conducting regular research on the SMME sector, focusing on marketing strategies, sourcing of materials, and consumer goods.
This research will be coupled with initiatives to diversify SMMEs, transitioning them from retail to manufacturing, and ultimately promoting value addition within the Namibian economy.
“This will be accompanied by ensuring their participation in local, regional and international trade fairs where Namibian products are to be exhibited,” Kamuhanga said.
The IPBF also announced a trade mission to South Africa planned for August 6, 2024.
During this mission, the IPBF will forge ties with the Aboriginal Business Forum of South Africa (ABFSA) through the signing of a strategic MoU.
This partnership is expected to pave the way for a fully-fledged business forum between the two organisations later this year.
Representatives from the relevant Namibian Ministry will also join the IPBF on this South African venture.
