Finance Minister Ericah Shafudah says the government has committed to establishing a National Youth Development Fund aimed at creating employment for Namibian youth.
Shafudah said the Fund is a response to rising youth unemployment, which has been reported at 44.5%, according to the latest analysis, despite multiple efforts by the government to generate employment.
“Good news, we always learn from our mistakes. We are going to establish a National Youth Development Fund as per your recommendations through the Swapo Manifesto implementation plan,” the Finance Minister told at a recent public engagement.
While she did not specify timelines for implementation, she said the initiative is guided by the Swapo manifesto’s youth empowerment commitment’s Support to Apprenticeship Programme and National Youth Fund, which seeks to create 52,087 jobs over the next five years with a budget of N$10 billion.
She said the government has employed various initiatives aimed at creating youth employment, but they have yielded minimal results.
These include credit schemes under the Ministry of Education, the National Youth Council, the National Youth Service, the Equipment Aid Scheme (EAS) under the Ministry of Industries, Mines and Energy, as well as credit through the Development Bank of Namibia.
“When I put all these together, it’s a lot of money, including the credit guarantee scheme arranged with the banks, guaranteed by the government, yet youth unemployment is still at 44.5%. Where did we go wrong?”
“The SME schemes that the government has put in place earmarked for small enterprises developed, there are a lot, but you don’t see their impact. Is it the theory of it that was not correct, or what is it?”
She further revealed that discussions will be held to include youth in local procurement.
“Why can’t the youth supply medical supplies, and to education, food? The money is there. I don’t know if the money goes to one person who is not willing to employ others, but we are going to discuss it,” she said.
An average of 30% of local tenders are generally reserved for youth-owned SMEs, according to the National Planning Commission.
Last year, the Central Procurement Board revealed that 86% of procurement contracts valued at N$11.8 billion were awarded to local companies.
Meanwhile, Deputy Education Minister Dino Ballotti revealed that the government will re-establish the Namibia Annual Music Awards (NAMAs) this year, aimed at supporting the creative industries.
The NAMAs were hosted for about N$10.2 million per year, the bulk of which was allocated by Mobile Telecommunications (MTC) Limited, however, they concluded in 2020, marking an end to the service provider’s decade-long sponsorship of the event.
