14 Local Businesses Awarded SME Fund Grants of Up to N$100,000

The Namibia Investment Promotion and Development Board (NIPDB) has awarded grants ranging between N$65,000 and N$100,000 to 14 Namibian businesses to support their expansion and strengthen their capacity to access further financing.

The awarding of the grants was announced at the inaugural SME Fund Chelete Cage Pitch Event held in Windhoek on Tuesday.

The beneficiaries were selected from nearly 900 applications received during the fund’s first call, with the successful entrepreneurs representing all 14 regions, presenting their business models, growth plans and funding needs across three pitching sessions at the NIPDB Head Office, marking the completion of the fund’s first funding cycle and the beginning of financial and enterprise development support for the selected businesses.

NIPDB's Acting Chief Executive Officer (CEO), Julia Muetudhana highlighted the response to the funding call as an indication of the demand for accessible business support across the country.

“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,” Muetudhana said.

She stressed that the fund forms part of the NIPDB’s mandate to develop competitive Namibian micro, small and medium enterprises (MSMEs) and promote exports, noting the sector’s contribution to a diversified and inclusive economy.

The SME Fund operates under the Promotion of Small and Medium Enterprises Development in Namibia (ProSME) Project, funded by the German Federal Ministry for Economic Cooperation and Development (BMZ).

Meanwhile, Deputy Chief National Development Advice and Director of Development Partners Coordination at the NPC, Ned Sibeya, emphasised the role of entrepreneurship in achieving the country’s Sixth National Development Plan (NDP6) ambitions.

“Achieving our NDP6 ambitions will require many successful entrepreneurs, not just a few,” Sibeya said, highlighting the need for businesses that create jobs, develop new products and explore new markets to contribute to a more diversified and resilient economy.

Moreover, German Ambassador to Namibia, Thomas Wimmer reaffirmed Germany’s commitment to supporting entrepreneurship and sustainable economic development, highlighting cooperation with the NIPDB and other institutions as part of efforts to help businesses turn their ideas into viable enterprises.

“Through our cooperation with NIPDB and other institutions, we want to contribute to an environment where entrepreneurs can turn their ideas into thriving enterprises,” Wimmer said.

Beyond the grants, the first cohort will receive enterprise development and technical support to strengthen business operations, increase turnover, improve sustainable business practices and prepare for further financing.

The beneficiaries operate across agriculture and agro-processing, manufacturing, tourism, education, health and wellness, the creative industries, and the blue and circular economies.

Some of the businesses awarded funding were Okarui City Fresh Produce Trading CC, based in the Omaheke Region, which received N$100,000.

Its owner, Kahete Keeja, outlined how the grant would help address constraints that have limited the business’s expansion since it started operating four years ago.

“This opportunity has given me a chance to put myself out there and step into uncomfortable spaces as I continue to put myself and my business out there,” Keeja said.

She explained that the funding would be used to invest in storage capacity, which would improve the business’s ability to supply fresh produce.

Meanwhile ,Zee Media Group CC, Kauna Mighty Empowerment Investment CC and Rendez-Vous Investment CC each received N$100,000.

In addition ,Tavinda Investment CC, Elephant Rest Tented Camp, Oelewe Investments CC, Riverdale Private Academy and Kalinasho Trading Enterprises CC each received N$75,000, while Santo-Lite Investment CC, Cooccur Trading CC, Felistas & Sons Investments CC, Mwayola’s Vision Investment CC and Ultra Events CC each received N$65,000.

The SME Fund's Project Lead, Michael Field outlined the scale of the programme’s funding, stating that approximately €430,000 was available across seven funding calls, with individual grants generally ranging from N$50,000 to N$100,000.

Further highlighted that women-led enterprises accounted for 44% of applications during the first call, while youth-led businesses represented 49%.

The first cohort marks the completion of the SME Fund’s inaugural funding cycle, with the 14 beneficiaries set to receive support to address business growth constraints and build the capacity needed to access further financing.

The initiative brings together the National Planning Commission (NPC), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and the NIPDB to support businesses with growth potential that are not yet ready to access traditional financing.