EIF addresses cleantech funding gap 

EIF addresses cleantech funding gap 

To bridge the funding gap faced by Namibian cleantech entrepreneurs, a crucial session was recently hosted. 

The event was titled ‘Fundraising 101 for Namibian Cleantech Entrepreneurs: An Introductory Session on How to Find Funding for Startups’. 

The event, organised by the Environmental Investment Fund of Namibia (EIF), Co- Creation Hub (CcHUB), the United Nations Industrial Development Organisation (UNIDO) and the Network for Global Innovation (NGIN), aimed to equip Namibian entrepreneurs with the knowledge and tools needed to navigate early-stage fundraising. 

The session provided a thorough exploration of early-stage funding sources accessible in Namibia and internationally. 

It covered investor expectations, various investment types, and key valuation criteria for startups. 

Additionally, discussions highlighted the impact of policies on SMEs and cleantech ventures, best-practices for creating persuasive investor pitches and diverse perspectives on startup funding, including banking, risk capital and corporate agreements. 

Speaking at the event was environmental commissioner Timoteus Mufeti. 

“Namibia stands at a defining moment in its pursuit of a low-carbon, sustainable economy. As a government, we are aware of the growing threats posed by climate change. That is why Namibia’s commitment to global climate action, under the leadership and coordination of the Ministry of Environment, Forestry and Tourism, is unwavering. 

We have ratified all key multilateral climate agreements, including the Paris Agreement, and remain dedicated to limiting global temperature rise to well below 2°C, striving for 1.5°C. This commitment is reflected in our ambitious Nationally- Determined Contributions (NDCs), which provide a clear framework for emissions’ reduction” he said. 

CEO Benedict Libanda of the EIF said the Global Cleantech Innovation Programme (GCIP) is more than just a programme. 

“It is a long-term investment in Namibia’s future. Over the next 36 months, with an allocated budget of over N$16 000 000, this initiative will make a tangible impact, including the mitigation of approximately 45 000 metric tonnes of CO₂e through the implementation of cleantech solutions. 

“The GCIP will also lay a strong foundation by establishing a national training framework, equipping cleantech entrepreneurs and mentors with the skills they need to succeed. It will support over 80 enterprises, offering them access to innovative financial mechanisms and tailored financial support to drive their cleantech innovations. 

“Additionally, by working closely with policymakers, GCIP Namibia will help develop and submit gender-responsive cleantech innovation policies, ensuring alignment with both national priorities and international sustainability goals,” he said. 

This successful session marked a significant step in Namibia’s journey toward fostering a robust cleantech ecosystem. 

As Namibia continues to position itself as a leader in climate resilience and green innovation, empowering entrepreneurs with the right financial knowledge and resources will be critical in achieving long-term sustainability goals. 

The session was moderated by Aina-Maria Iteta, EIF executive: business strategy and performance management. 

It featured a distinguished panel of industry leaders and investors. 

GCIP in Namibia is an initiative by the United Nations Industrial Development Organisation (UNIDO), in partnership with the Global Environment Facility (GEF) and the Green Climate Fund (GCF). 

GCIP aims to promote innovation and entrepreneurship in emerging markets and developing economies to address climate and environmental challenges. 

In Namibia, the programme focuses on supporting startups as well as small and medium enterprises (SMEs) with innovative cleantech ideas, helping them establish up-scale business models. 

GCIP strengthens entrepreneurship ecosystems, and facilitates partnerships and networking between private and public actors to ensure the long-term sustainability of its interventions.