Namibia disburses 90.8 million dollars to young entrepreneurs
By the AFREEQUE newsroom, based on New Era
Namibia’s National Youth Development Fund has disbursed 90.8 million Namibian dollars to entrepreneurs, whose projects are expected to generate about 2,500 jobs. The fund received 13,809 applications and approved 135 million Namibian dollars in financing, according to the Ministry of Finance cited by New Era.
The National Youth Development Fund (NYDF), a Namibian government programme supporting entrepreneurship, has disbursed approximately 90.8 million Namibian dollars to beneficiaries, according to an update from the Ministry of Finance reported by New Era. Approved projects are expected to generate around 2,500 job opportunities.
As of August, the fund had received about 13,809 applications through development finance institutions. Around 135 million Namibian dollars had been approved; the 90.8 million already disbursed represents the sums actually received by beneficiaries. Projects cover agriculture, manufacturing, services, construction, green energy and tourism.
The state allocated 258 million Namibian dollars to the fund for the 2025-2026 financial year, including 129 million to finance projects, 90 million for an endowment managed by the Bank of Namibia and 39 million for training and support. An additional 50 million was allocated for 2026-2027. Contributions of five million each from NamPort, the national port authority, and NamibRe, the national reinsurer, bring the total investment to 317 million Namibian dollars.
The unsecured funding is aimed at young entrepreneurs who lack the assets needed to obtain a conventional loan. The government also intends to assess the programme based on the sustainability of businesses created and the geographical distribution of jobs. The fund is part of the Sixth National Development Plan, the government’s roadmap for growth and employment.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
