Vice president of the Economic Association of Namibia Jesaya Hano-Oshike said small and medium enterprises form the backbone of the economy. ‘

However, access to the capital remains limited. In addition, venture capital and private equity fill the void by providing funding and strategic guidance, governance and networks.

He highlighted the roles of venture capital and private equity. 

“Around the world, venture capital and private equity have proven to be powerful engines for innovation, job creation and inclusive growth. They breach the gap between promising ideas and the capital required to turn them into viral businesses,” Hano-Oshike stated. He made these remarks at the public discussion hosted by Economic Association of Namibia (EAN), in partnership with the Hanns Seidel Foundation (HSF), under the theme ‘Investing in Potential: How Venture Capital & Private Equity Can Drive Namibia’s Economic Transformation’.

The public dialogue aimed to explore the role of venture capital and private equity in Namibia’s economic transformation, as well as discuss the policy, regulatory and institutional frameworks needed to attract and sustain investment. 

It further sought to identify opportunities for collaboration among government, investors and entrepreneurs.  Nicole Maske, the director at Manta Ventures, highlighted how venture capital can drive Namibia’s economic transformation.  “Namibia has 40 000 SME’s that create 200 000 jobs and contribute 12% towards gross domestic product. In 2024, Namibia’s startup ecosystem ranked 8th in Africa and 87th globally,” she stated.  She added that, through venture capital, which funds early-stage innovators with high growth potential, people start building something new, usually with some risks involved. 

Maske had a look at what holds back start up managers, stating that contributing factors include capital, ecosystem depth, perception and policy friction. 

“We also need government support to align incentives and remove barriers as well as the Namibian narrative, which should change. Namibia is not too small, but Namibia is untapped,” she said.