This year, Namibia proved to be a potential hotspot for investors in various sectors, being praised for innovations and creating a platform for businesses to thrive.
Hence, organisations like the Namibia Business Angel Network (Naban) has pledged to continue fostering innovation, fuelling entrepreneurship.
“Naban members and angels believe in the importance of entrepreneurship as a catalyst for economic growth, and are willing to invest their private excess funds in start-ups in exchange for equity in said companies. By membership agreement, each investor has committed to fulfil at least one start-up investment per year,” shared spokesperson Niita Shikongo.
Naban is a group which supports the growth of start-ups, and fosters economic development in Namibia. It comprises 21 individuals from different professional backgrounds across various industries, governed by a constitution and official committee.
“By connecting start-ups with experienced investors, Naban continues to play a vital role in driving innovation, job- creation and sustainable development in the country. In the dynamic world of entrepreneurship and start-up ecosystems, each year carries its unique blend of challenges, triumphs and opportunities,” she added.
In March, the network held an ‘Investor Link-up’ to educate attendees on investment, and strengthen the connections between local investors. Discussions were centred around encouraging government involvement, the state of early-stage funding, and limitations to investing in Namibia.
“October saw the inaugural edition of the ‘Start-up Success Series’. The event broke down real-life entrepreneurship into layman’s language in a way that anyone could understand. As part of this series, Naban invited entrepreneurs and investors to share their insights, enabling aspiring founders within the audience to gain a relatable roadmap of how to navigate the pathways to entrepreneurial success,” highlighted Shikongo.
A notable event by the network included the collaboration with the Africa Early Stage Investor Summit (AESIS) in October. The group hosted the Windhoek Investor Meet-up alongside 30 other entrepreneurs across the continent, as part of the events leading up to the 10th anniversary of the main summit.
Shikongo noted that reflecting on the achievements of 2023, it is clear that the mission to nurture innovation, connect investors and start-ups, and foster collaboration, is more vital than ever.
“With a track record of 11 successful initiatives to date, Naban has firmly established itself as a leader in Namibia’s entrepreneurial landscape,” she indicated. A member of the network, Jesaya Hano-Oshike, said: “As we look to 2024, we invite all those eager to join our mission to become members and angel investors of Naban. We know that we cannot do this alone. Together, we can continue to shape the future, empower entrepreneurs, and ignite innovation in Namibia and beyond”.
– psiririka@nepc.com.na