Owning your zula
03 December 2018 | Business
The festival served as a platform for participants to learn about up- scaling their existing businesses and new ways to create alternative sources of income to improve the local informal economy and make informal settlements economically productive areas that contribute to the local as well as national economy.
The theme for the event was, “Own your zula”.
Many of the informal settlement dwellers are involved in some form of income-generating activity. Supporting them is essential to improve the local economy of the settlement and address unemployment through business creation.
According to Diasry Mathias, presidential advisor on youth matters and enterprise development, it is important to host events like this in informal settlements to encourage the youth to take a more proactive approach in creating a better future for themselves.
The festival offered a spectacular program, with workshops and panel discussions on topics such as dealing with failure as an entrepreneur, managing your business and personal finances and creativity in business.
The festival concluded with a pitching competition where nine residents from the settlement pitched their business ideas on the big stage. The first prize winner walked away with N$6 000 and a Pebble Computer, followed by the second and third prize winners who also received Pebble computers and cash. Each of the participating pitchers received N$1 000.
Apart from the innovativeness of the pitches, one of the main pitching criteria was the impact the business idea would have on the Gobabis community.