14 MSMEs secure SME Fund grants
Fourteen micro, small and medium enterprises (MSMEs), representing all 14 regions of Namibia, have received grants ranging from N$65,000 to N$100,000 under the SME Fund.
The grants were awarded at the inaugural Chelete Cage Pitch Event in Windhoek on 27 October, following a funding call that attracted nearly 900 applications.
The SME Fund is part of the Promotion of Small and Medium Enterprises Development in Namibia project, a partnership between the National Planning Commission, Germany’s development agency GIZ and the Namibia Investment Promotion and Development Board (NIPDB).
The programme combines grants with business development support to help enterprises strengthen operations and improve their access to finance.
NIPDB acting chief executive Julia Muetudhana said the strong response demonstrated the demand for accessible business support across Namibia.
“Every one of those nearly 900 applications represents a person with an idea, a family that depends on a business, and a community that stands to benefit if that business grows,” she said.
Ned Sibeya of the National Planning Commission said entrepreneurs would be critical to achieving the objectives of the Sixth National Development Plan through job creation, new products and market development.
One of the beneficiaries, Okarui City Fresh Produce Trading CC in the Omaheke Region, received N$100,000.
Owner Kahete Keeja said the funding would help the four-year-old business expand its storage capacity and increase its ability to supply fresh produce.
The grants mark the first funding cycle of a programme designed to help promising businesses overcome growth constraints and build a track record for accessing larger sources of capital.
