Windhoek
Businessman Knowledge Katti has announced that he will avail N$1 million to the youth of his native town Walvis Bay – to help fund innovative business ideas by young people.
A perpetual giver to the community, Katti’s latest intervention is aimed at helping government in the proverbial war against poverty, as well as helping young people access funds without enduring the troubles of meeting the requirements of commercial financiers.
Through his Knowledge Foundation, Katti has already donated or supported various worthy causes and individuals around the country, in cash and in kind, amounting to more than N$10 million.
A large chunk of the N$10 million has been pumped into the tertiary education of several needy students, who were identified by the foundation to receive scholarships.
“For the past few months The Knowledge Foundation has been developing a youth empowerment programme that aims to increase the employability and improve the success of entrepreneurship ventures by Namibian youth,” Katti said yesterday from the south of France.
“Through this programme, The Knowledge Foundation will partner with local, national and global stakeholders including multinational corporations, foundations, DFIs, impact investors and philanthropists, who share the vision of investing in the empowerment of youth to achieve sustainable economic development.”
The development of this initiative is progressing well, said Katti, and further announcements will be made in due course.
“In the immediate term, I have decided to make available an amount of N$1 million to support the implementation of innovative business by young people, with a specific focus on Walvis Bay, where I grew up,” the petroleum exploration young entrepreneur said.
“I see this as my investment in the community where I grew up and I hope other successful business persons will be inspired to do the same. I arrived at this decision after deep reflection on my own life and my childhood, as a person who grew up amidst poverty.”
Since becoming head of state in March, President Hage Geingob has passionately spoken of the need for the entire nation to wage a war against poverty – led by his government.
Young Namibians continue to be adversely affected by not only unemployment but also lack of opportunities.
“I believe that sharing and demonstration of practical solidarity will make Namibia a better place for all,” Katti said.
“I believe that in the realm of business, corporate social responsibility should not be a mere convenient and nice-sounding slogan or some kind of window dressing, it must be carried out with all sincerity and meaning, so that businesses can make the kind of consequential impact that will have long-term positive effects,” he added.