Namibia’s start-up ecosystem continues to struggle with early-stage funding, limited skills development, and weak cross-sector collaboration, speakers said at the Fintech Future event hosted by the Bank of Namibia on Monday.
Jesaya Hano-Oshike, Director at Basecamp Business Incubator, said building a thriving start-up sector requires greater coordination between government, investors, and business hubs.
“We need a connected start-up ecosystem where basically start-up actors as well as hubs work together to collectively support the start-ups. It’s not an easy journey,” Hano-Oshike said.
He cited limited access to early-stage capital as a major obstacle, adding that shortages of local talent and the high cost of support programmes continue to hinder growth.
“There’s an opportunity to innovate across sectors like Agritech, Clean Energy, and Creative Industries, but regulatory hurdles, high entry costs, and connectivity issues outside urban areas remain major challenges,” he said.
Immanuel Kadhila, General Manager of Investments at the Government Institutions Pension Fund (GIPF), said institutional investors could help bridge the financing gap but warned that capital alone is not enough to sustain growth.
“Funding alone does not build businesses. Businesses are also built through an ecosystem. We can throw all the money we want at businesses, but if there’s no proper ecosystem, we cannot achieve much,” Kadhila said.
He proposed blended finance models that combine public, private, and development funding, supported by mentorship and incubation programmes to nurture early-stage enterprises.
Michael Humavindu, Executive Director at the Ministry of Finance, said the government is taking steps to support start-ups through innovation hubs, the National Youth Development Fund, and partnerships with development agencies.
“Namibia’s development will not be built by imitation. It will be built by innovation, our own homegrown, inclusive and values-driven approach. Start-ups are a means to an economy that is resilient, efficient, and rich with opportunity,” Humavindu said.
