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Home Business & Economy

Khomas invests N$25.8m in MSME development

by editor
February 11, 2025
in Business & Economy
2
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The Khomas Regional Council has invested over N$25.8 million in supporting more than 1,542 Micro, Small, and Medium Enterprises (MSMEs) and projects under the Income Generating Activities (IGA) Programme since its inception in the 2004/2005 financial year.

The IGA Programme, designed to provide equipment and materials to MSMEs, is aimed at fostering economic growth and job creation in both rural and urban communities.

 The initiative receives an annual budget of N$2.5 million, with N$1 million redirected towards minor development projects in the region.

Initially launched in 2004 with a budget of N$1 million allocated across all constituencies, the programme’s funding has more than doubled over the years.

Khomas Regional Council Public Relations Officer Mekeloye Nambili highlighted that the programme prioritizes key economic sectors, including manufacturing, vocational enterprises, early childhood development, agriculture, renewable energy, youth empowerment, recycling, ICT, healthcare, arts and crafts, hospitality, and catering.

“The programme aims to create employment opportunities and improve the living standards of people in both rural and urban areas,” Nambili stated. “It also seeks to instill a business culture among community members with little to no income, aligning with the Regional Council’s broader socio-economic development mandate.”

She further emphasized that the initiative supports new business ventures, helps existing projects increase profitability, and promotes MSME growth to enhance job creation.

Currently, the Regional Council allocates N$2.5 million annually across its 10 constituencies, translating to N$250,000 per constituency. The programme is implemented through collaboration between the Regional Council, Community Development Committees (CDCs), and beneficiaries.

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