Rudolf Gaiseb
Under the Industrial Upgrading and Modernisation Programme, the Ministry of Industrialisation and Trade (MIT) will provide grants to suitable and qualifying enterprises.
The ministry has directed application forms be completed and submitted before 10 October 2024, to any of the MIT offices in Eenhana, Gobabis, Katima Mulilo, Keetmanshoop, Mariental, Ongwediva, Omuthiya, Otjiwarongo, Opuwo, Outapi, Rundu, Nkurenkuru, Swakopmund and Windhoek.
“The lowest grant amount will be N$150 000 and the highest will be N$250 000. The grant will be approved on the basis of a business plan and cash flow projection. The funds can be used for equipment or business upgrading and modernisation, including packaging, labelling, and standardisation. Subject to acceptance of MIT terms and conditions, requirements may be relaxed.
Each application will be treated on individual merit and at the sole discretion of MIT. To ensure sustainability, recipients may be required to undergo business training and/or mentorship determined by MIT,” minister of trade Lucia Iipumbu said in a statement.
She indicated that 13 fields and sectors qualify for the grants, namely: game meat and value-added wildlife products; hides, skins, leather, and wool products; metal fabrication, charcoal, and other value-added bush products. gemstones and jewellery; cosmetics and pharmaceuticals; fish-processing and value-added blue economy products; heating, ventilation, air-conditioning, and refrigeration sectors; agro-processing, which includes beef; indigenous food and horticulture processing value chains.
Others are handicraft and furniture value chains; cultural and creative sectors; renewable energy; information and ICT.
“The applicants must be in operation in the qualifying sectors for at least two years and have relevant professional qualification/certification (NQF5 and higher). Upon approval, be prepared to attend business training and mentorship as directed by MIT. They must also develop a business plan and a cash flow projection, have a formally- registered business with a banking account, and be prepared to obtain personal and business insurance, financed as part of the grant,” she stated.
The minister noted that, besides not having benefitted before from any grant from MIT, the applicants must be able to contribute 15% of the grant amount. They must not be in any arrears of MIT or the Namibia Industrial Development Agency rentals, and if so, they will be allowed to clear such before any allocation.