New O-space open
Practical solutions for aspiring business owners
15 June 2021 | Local News
Speaking at the event, industrialization minister Lucia Iipumbu, said this endeavor will add value to
Namibia’s socio-economic development, as well as promote business entrepreneurship and support
established start-ups, integrating small businesses, youth and creative industries in the region.
“Putting the interests of the Namibian people first is what excites us the most. This is because
we at the ministry communicate the ‘Growth at Home’ language,” she said, adding that this is
essential for development.
The Ministry of Industrialisation and Trade in collaboration with stakeholders and development
partners created programmes designed to assist Micro, Small and Medium enterprises
(MSMEs) and further aimed at supporting various start-ups and growing businesses to
withstand the worst of Covid-19 pandemic.
“Through Start-up Namibia, we aim to have national hubs with regional outreach with a target to
create at least 150 sustainable startups by December 2023. We have no doubt that the O-
Space initiative will come onboard in offering practical solutions to aspiring business owners and
equally providing support to increase productive business in our economy.”
She said the inauguration lays the foundation to reap desired fruits in the future aimed at
promoting business, trade and sustainable development within the country and the international
“The government is aware of the importance of the MSMEs, start-ups and youth
entrepreneurship and the role it plays in developing the economy, hence the ministry is set to
implement appropriate policies and programs with a view to enhance businesses growth,” she
“This includes development of a National Informal Economy and Entrepreneurship Development
Policy that is currently in the pipeline. The policy’s objective is to develop the informal economy
and its participants into commercially viable and mainstream economy sector, which could
contribute to the economic growth of the country and its inhabitant in a sustainable manner,”
The policy seeks to address challenges faced by the informal economy including infrastructure,
entrepreneurial development, and institutional support. Additionally, the policy is to be
developed into a national business promotion act to help ensure that it is integrated with the
Namibia Investment Promotion Act with the main emphasis on sector reservation and ensuring
the attraction of viable and complementary foreign investment.
“The ministry continues to put in place various interventions to assist the MSMEs to acquire
appropriate production technology in the form of equipment and machinery to improve their
productivity and competitiveness, where funds permit,” she continued.
In conclusion, she said that “As nation we do not have a choice but to industrialise and to
continue devising strategies to defend and sustain local and upcoming enterprises, which is
growth at home.”