The Ministry of Industrialisation and Trade has supported over 3,000 micro, small, and medium-sized enterprises (MSMEs) through its Equipment Aid Scheme (EAS) across all 14 regions of Namibia.
Minister of Industrialisation and Trade Lucia Iipumbu said the scheme aims to boost production and reduce business setup costs and has helped some MSMEs grow into large enterprises.
In the Zambezi region, 24 beneficiaries have received equipment through the EAS, with a total fund allocation of N$647,680.13.
“It is an absolute privilege to address you this afternoon at this exciting yet very important event where we are witnessing the handing over of equipment to our esteemed entrepreneurs in the Zambezi region under our flagship support programmes; Equipment Aid Scheme (EAS) and Industrial Upgrading and Modernisation Programme (IUMP) grants,” said Iipumbu.
Under the IUMP, one beneficiary from the region was granted N$161,412.50. Iipumbu acknowledged the challenges faced by applicants but urged businesses to seek assistance.
“We have noted with concern that most applicants failed to adhere to the set requirements… it is disheartening that none of these applicants sought assistance in the completion of their applications at our regional office,” she noted.
The Minister also announced the next cohort of applications for the 2024/2025 financial year, with a submission deadline of October 10, 2024. Additionally, the creative sector and ICT are now included in the scheme’s interventions.
“The Namibian Government through the MIT is committed to supporting both our emerging and established business operators from various sectors to enable them to thrive in their entrepreneurial journey,” she said.
The EAS was launched in 2009 but paused in 2016 due to budgetary constraints. The programme was revived in 2022, complemented by the Industrial Upgrading and Modernisation Programme (IUMP).
Iipumbu highlighted that these programmes are aligned with Namibia’s industrial needs and aimed at improving business competitiveness.
She added that through these initiatives, Namibia is focused on 11 key growth sectors, including game meat, leather, metal fabrication, and agro-food processing. Iipumbu reaffirmed the government’s dedication.
“I would like to reaffirm the government’s commitment to supporting our SMEs through continuous provision of equipment, capacity building and mentorship programs, and providing the necessary infrastructure to operate from,” she added.
The ministry will also ensure that beneficiaries undergo training and regular monitoring to maximise the impact of the provided equipment.
