The Ministry of Finance has approved a second round of youth-led business projects under the National Youth Development Fund, allocating N$37,753,532 to 66 beneficiaries across all regions, aimed at boosting employment and entrepreneurship among young Namibians.
Ministry Spokesperson Wilson Shokoto said the funding, processed in partnership with Development Finance Institutions, is expected to stimulate innovation and job creation in key growth sectors.
“The funding will support the creation of 404 jobs in sectors such as agriculture, renewable energy, horticulture, sustainable tourism, waste management, agro-processing, green transport and value-added services,” he said.
Loan amounts range between N$88,000 and N$1 million, with assessments carried out by Agribank and the Environmental Investment Fund.
Otjozondjupa received the largest total allocation nationwide, with six youth-led projects approved at a combined value of N$4,723,859.53, expected to create 33 jobs, Shokoto confirmed.
Other regions also secured funding. In the Zambezi Region, six projects were funded with N$3,444,082.35, generating 33 jobs. Kavango East received N$3,122,852.95 for four projects, the highest job contribution nationwide with 43 jobs created.
Four projects in Omaheke, valued at N$3,650,000.00, are expected to create 22 jobs, while Kavango West received N$2,196,500.00 for five projects, generating 20 jobs.
In the north-west, Kunene received three projects totalling N$2,098,383.36 and creating 17 jobs. Both Ohangwena and //Kharas secured three projects each, receiving N$1,288,111.09 and N$1,220,000.00 respectively, with each region contributing 14 jobs.
Erongo obtained three projects worth N$888,435.92, expected to create 18 jobs, while Hardap’s four projects valued at N$1,608,371.00 will generate 14 jobs. In Oshana, three projects worth N$2,319,619.00 will also support 14 jobs.
Two regions received only one approved project: Khomas, funded at N$200,000.00 and expected to create one job, and Oshikoto, funded at N$500,000.00 and expected to create six jobs.
Shokoto said a new application round has already opened to ensure continuity of the programme.
“Applications will continue to be submitted through the Governors’ offices. The Ministry will keep announcing successful applicants from more than eleven thousand submissions received during the pilot phase,” he said.
