PM announces additional N$20 million for youth farming fund
Prime Minister Elijah Ngurare has announced an additional N$20 million for Agribank to expand funding and training for youth-led agricultural businesses under the National Youth Development Fund (NYDF).
The announcement came during a visit to Agribank, one of the development finance institutions responsible for implementing the fund. The visit formed part of the prime minister's engagements with NYDF implementing institutions to assess progress, identify challenges and explore opportunities to strengthen delivery.
Ngurare commended Agribank's capacity-building initiatives, noting that the bank has provided training and advisory services to more than 70 000 farmers and placed over 300 farmers in mentorship programmes since 2017.
Ngurare urged Agribank to strengthen practical support for young entrepreneurs who may struggle to prepare business plans, while ensuring applicants are assessed only according to the NYDF's approved criteria. "Every successful enterprise starts with an idea. Our collective responsibility is to help young Namibians develop those ideas into viable and sustainable businesses," Ngurare said.
He also called for closer collaboration between government institutions and other stakeholders to maximise opportunities for young entrepreneurs in the agricultural sector.
Agribank told Ngurare that of the N$40 million initially allocated to the bank under the fund, about N$23 million has already been approved, benefiting 66 young people through youth-led agricultural enterprises.
The bank also revealed that about 1 400 loan applications are currently under review, highlighting continued demand for youth financing in the agricultural sector.
The approved funding supports projects in poultry, horticulture, pig farming, agro-processing and aquaculture across all 14 regions.
