The Ministry of Industrialisation and Trade (MIT) received equipment worth N$9 million from GIZ, set to be distributed to small and medium enterprises (SMEs) across the country.
The support was offered through GIZ’s Startup Namibia programme, which ran for three years.
According to MIT Minister Lucia Iipumbu, 600 entrepreneurs have been provided with equipment aid under the programme.
“Initially at the start, we had a pool of 150 SMEs, as we reach the end of the programme that figure has increased threefold. As we know, SME sector is the backbone of any flourishing economy, therefore, we expect those who have been assisted to be visionary, thus leading to business growth and not stagnant as a startup forever,” said Iipumbu.
Considering that the SME segment no longer falls under the MIT mandate, Iipumbu said the Ministry now relies on support such as the GIZ programme to advance assistance, “because we no longer receive a budgetâ€.
The Ministry has since then resumed the Equipment Aid Scheme (EAS) programme which was first started in 2009, and has to date seen 4,000 entrepreneurs acquire support to enhance productivity and competitiveness.
In addition to this, MIT said GIZ is and has been a strategic partner of the Ministry in carrying out some of the major projects of the Ministry such as EAS, the Sustainable Development Goals impact facility and the Industrial Upgrading Modernisation Programme.
The projects each have an allocated budget of N$4 million, N$2 million and N$3 million, respectively.
Meanwhile, Ulrike Metzger, Head of development cooperation at the German Embassy in Namibia, said though the entire period of the programme GIZ Startup spent approximately N$166 million in SME funding, training, mentoring and coaching.
“Whereas a total of 3,000 young people participated in the various training activities at the digital transformation centre utilising many of the tools and machines handed over. In addition, 375 entrepreneurs received training in business management and access to financing mechanisms, of which 60% of those reporting significant skills improvements are women,” said Metzger.
She added that Startup Namibia hosted more than 10 events that included boot camps on e-commerce, a pandemic solution hackathon, product-based training and startup workshops, among other support services.
“About 123 have so far grown and attained financial turnover increase. To support and foster start-ups bring innovation and employment to boost the private sector, thereby reducing poverty, especially in a country with high youth unemployment,” stated Metzger.
Overall, the project worked towards making Namibia a globally recognised startup hub with a unique ecosystem open to global citizens as a destination for entrepreneurial innovation on the African continent by 2025.
