Standard Bank’s head of enterprise and direct, Rodney Coetzee, on Wednesday said informal businesses must be brought into Namibia’s mainstream economy if the country is to unlock its full growth potential.
Coetzee said the bank sees supporting small and informal enterprises not as a slogan, but as a responsibility tied to national development. He stressed that many entrepreneurs fail to access funding and opportunities not because they lack ambition, but because they lack structure and formal systems.
He was speaking at the launch of the 2026 Standard Bank Blue Growth Series (SBGS) Informal Sector Activation, rolled out in partnership with the Namibia Investment and Finance Academy (NIFA) at the Khomas regional office.
Reflecting on last year’s Blue Growth Series, which focused on formally registered micro, small and medium enterprises (MSMEs), Coetzee said the bank received strong interest from across the country.
However, many applicants could not complete the process because they lacked proper financial records, compliance documents and governance systems.
“When structure is required, that is often where potential falls away. It is not unwillingness. It is a lack of support and clarity,” he said.
He noted that many informal traders operate in fast-moving environments without separating personal and business finances, managing cash flow properly or keeping consistent records factors that limit access to finance.
He said businesses must first understand profitability before seeking credit.
“If a business is not making a profit, it is not sustainable. I urge entrepreneurs to improve pricing, record keeping and financial discipline,” he said.
He added that once these basics are in place, businesses can move from self-funding to structured products such as overdrafts, asset financing and working capital solutions.
The 2026 programme expands the Blue Growth Series to intentionally include informal operators and help them transition towards formalisation, financial inclusion and long-term sustainability.
Although launched in the Khomas region, Standard Bank indicated that the programme forms part of a broader national strategy to support enterprise development across Namibia.
Coetzee said sustainable growth requires preparation, governance and access to markets and that the bank is committed to walking that journey with local entrepreneurs.
“Namibia is our home. We drive her growth,” he said.
NIFA chief executive Arinze Okafor said the informal sector contributes an estimated 26% to 27% of Namibia’s gross domestic product and accounts for about 58% of employment.
Despite this, many operators remain outside formal systems, limiting their growth prospects.
“Our role is to help businesses move from where they are to where they want to be. Furthermore, the programme focuses on practical training, mentorship and market access rather than theory,” he said.
The mayor of Windhoek, Sakarias Uunona, welcomed the initiative, saying it would strengthen governance practices, operational efficiency, and financial record keeping among informal traders in the region.
He said that entrepreneurs selected for the programme will receive mentorship and structured technical support to strengthen their businesses and improve access to finance.
“This programme is not just about theory. It is about practical training that you can apply in your business immediately,” he said.
Uunona said the aim is to help informal traders develop clear and realistic pathways towards formalisation.
Within a year, participating businesses are expected to show measurable improvement through better systems, stronger record keeping and improved operations.
“We want to move businesses from where they are today to where they want to be. That journey requires structure, discipline and support,” he said.
The programme is also designed to improve integration between informal traders and formal markets in the Khomas region, strengthening economic inclusion and long-term sustainability.
He stated that financial inclusion goes beyond loans.
“Meaningful financial inclusion requires more than access to capital. Sustainable enterprises are built through structure, governance and capability,” he said.
The initiative combines skills development, financial literacy and enterprise growth in a practical and scalable way. The government has pledged its support to ensure the programme delivers lasting impact.
“This partnership shows how development should work. Financial institutions create opportunity, implementation partners provide technical expertise, government creates an enabling environment, and entrepreneurs commit themselves to growth,” he said.
He further said that they were not chosen as beneficiaries, but as business owners ready to grow.
“If you commit fully, this programme will not only give you knowledge. It will strengthen the foundation of your business and create opportunities for your families and communities,” he said.
He added that, the broader vision is to transform informal markets into structured micro-enterprises that contribute more meaningfully to Namibia’s future economy.