The Namibia Youth Entrepreneurship Fund and Chinese modernisation
Sino-relations
Josef Shehaama The Namibia Youth Entrepreneurship Fund (NYEF), in my opinion, can only succeed if the government supports young entrepreneurs in their efforts to adopt Chinese modernisation and provides them with access to cutting-edge Chinese technologies and successful business models tailored to Namibian market needs.
Building a stable foundation for business is therefore more vital than providing funds with little oversight, especially given China’s continual modernisation initiatives, which are expected to bring stability to the global economy.
In light of my observations from a seminar on Chinese Modernisation and African Development and the China-Africa Governance Experience Exchanges follow-up committee for the Forum on China-Africa Cooperation (FOCAC), I strongly recommend that the Namibian government create a platform where our young entrepreneurs can regularly exchange business model ideas to expand this sector.
In accordance with the objectives of FOCAC, this partnership would boost trade and economic cooperation between Namibia and China, especially amongst Micro, Small, and Medium-Sized Enterprises (MSMEs).
Collaboration between Namibian and Chinese young entrepreneurs demonstrates a common commitment to promoting business and facilitating access to global markets. The Namibian government’s investment in young entrepreneurs aims to improve people’s lives, not just statistics.
China’s incredible transformation over the years has taught the world many lessons, including the value of efficient governance, institutional reform, and social justice, as well as economic acceleration.
Therefore, rather than focusing on well-established businesses, the Namibia Chamber of Commerce and Industry (NCCI), the Namibia Investment Promotion and Development Board (NIPDB), and the Association of Chinese Enterprises in Namibia (ACEN) should make a deliberate effort to support the success of young entrepreneurs.
Furthermore, I firmly believe that young entrepreneurs can adopt China’s modernisation as a springboard to identify and transform opportunities into enterprises that propel China’s and Namibia’s development.
I am certain that Namibia has unique strengths that allow it to prepare local businesses for growth on the global stage, facilitating international trade and opening up dynamic markets such as China. This is evident from the seminars I attended, which firmly acknowledge and understand this opportunity and form strategic partnerships with young entrepreneurs in China.
These collaborations are critical for creating meaningful engagements and expanding market prospects for both countries’ enterprises.
It is encouraging that China has over 60 registered companies in Namibia operating across a broad spectrum of areas, demonstrating a positive partnership between Namibia and China. As Namibian young entrepreneurs leverage China’s successful business models, this will help encourage more localised operations in Namibia, particularly in manufacturing, research, and design of critical technologies, as China has a rich history of growing the economy and reducing poverty.
Besides that, I was inspired to believe that China is well-positioned to help our young entrepreneurs think beyond running competitive businesses by leveraging Chinese modernisation, as I witnessed whilst interacting with peers from other African countries, all of whom agreed that China’s modernisation will reshape the international landscape.
The reason for this is that Chinese modernisation is a transformative force of immense global influence, not merely a national aspiration. China’s modernisation opens up opportunities around the world.
Over the last four decades, China has lifted over 800 million people out of poverty, grown the middle-class population to over 400 million, and become the top trading partner of more than 140 countries.
It continues to fuel global economic growth because of its large population, which attracts foreign investment and supports international trade. Given that more than 80% of the world’s population lives in poor countries, China has developed a unique strategy based on its own local circumstances.
It encourages inclusive development by focusing on growth concepts and activities that benefit all parties involved.
Moreover, we have been in partnerships with other countries for too long, but Namibia has not benefited sufficiently from them. It is time to diversify into Asia to benefit from global initiatives. I believe that our young entrepreneurs will be successful if the Namibian government supports them in leveraging the vision of Chinese modernisation, which transcends national borders and serves as a model for a future where today’s problems become tomorrow’s opportunities.
China’s remarkable success in modernisation has not only inspired but also empowered Africa in its quest for an independent path to modernisation by supporting the African Union, Agenda 2063, and the African Continental Free Trade Area (AfCFTA), amongst other continental initiatives.
The private sector is becoming increasingly important in the continued growth of the relationship between China and Africa, providing exceptional potential for both countries to develop young entrepreneurs. Chinese enterprises are investing in numerous areas, from manufacturing to agriculture, to create jobs and expand the economy.
As these areas navigate the complexities of a rapidly changing global environment, ongoing cooperation and collaboration will be critical to fostering an inclusive and sustainable energy transition. Successful navigation of this complex landscape requires reliable partners that can mitigate risks and streamline operations.
To this end, I am therefore delighted that Namibia will capitalise on Chinese modernisation to support young Namibian entrepreneurs by implementing profitable business models founded on win-win partnerships for both local and foreign markets, as well as helping them expand their companies and create lasting enterprises.
Therefore, without a doubt, Chinese modernisation will provide Namibia’s young entrepreneurs with a comprehensive platform for long-term development. The urgent need for Namibia-China cooperation is to establish a platform for both Chinese and Namibian young entrepreneurs to embrace techniques that promote high-quality development, new productivity, high-level openness, and sustainable development.
If the two countries establish this platform, it will be up to the young entrepreneurs to experiment with practical techniques to unlock new development potential whilst focusing on sustainable industrialisation.
This will contribute to the development of resilient economies whilst also raising Namibians’ living standards, resulting in a more sustainable future.