Every year, thousands of young professionals in Namibia enter the workforce with high hopes and ambitious dreams. For many, that first paycheck represents success, validation, and an opportunity to start living the life they’ve long imagined. Yet, for too many, this is where the downfall begins. Instead of creating financial security, they rush to acquire status symbols like personal cars using high-interest personal loans mistaking liabilities for assets.

Let’s take a hard look at what a N$200 000 personal loan could do. For some, that figure immediately translates to a brand-new vehicle, usually a second-hand luxury or a new hatchback on monthly installments. Yet, that same N$200 000 can be stretched into purchasing three small used cars (like Toyota Vitz, Honda Fit, etc.), which can be used in a ride-hailing service like Yango or Bolt. With careful planning, these vehicles can generate a combined minimum of N$24 000 per month. Not only can that income cover the monthly loan repayments, but it can also allow the borrower to clear the loan in less than a year while building a cash-flow-generating asset base in the process.

This is the kind of thinking we need to cultivate among our youth: smart investments that fund themselves and create long-term sustainability.

A nation drowning in debt

Let’s speak plainly: Namibia has a debt problem. It’s not just the government; individuals are also entangled. Informally, almost every employed Namibian has a significant portion of their salary eaten up by monthly deductions. Be it a vehicle loan, a house mortgage, cash loans, or retail store accounts, many are left with mere crumbs of their gross income. Some even earn over N$40 000 per month but go home with less than N$3 000. To make it through the month, they take out more loans, perpetuating a dangerous cycle.

Where does this all begin? 

From the very first decision made after securing employment. Financial illiteracy at the beginning of a career leads to poor choices that snowball into long-term struggles. Instead of setting financial goals, budgeting, and planning for investments, many chase lifestyle inflation, living above their means simply to look successful.

This crisis can be prevented if we as a society, and especially within our families and communities, emphasize the need for mentorship. Young professionals should be guided and coached on how to view money, assets, and long-term wealth creation. If every graduate had someone to advise them about the risks of bad debt and the benefits of starting small businesses or side hustles early on, we would not have a society that lives paycheck to paycheck.

The waiting syndrome and lost potential

Namibia is blessed with resources and opportunities, yet thousands of graduates sit idle, waiting for someone to save them. Waiting for government jobs. Waiting for a “connection”. Waiting for a hero.

But here’s the truth: no one is coming.

It is time to move from a waiting mindset to an action mindset. Foreigners are moving to Namibia and thriving. Why? Because they see what many locals don’t have opportunities. They don’t wait for policies or promises; they act. They hustle. They start small. They turn our neglected spaces into profitable ventures, using the same resources that we often take for granted.

Imagine the power if local youth did the same.

We must train our minds to identify gaps, start businesses, learn new skills, and think outside the norm. Not every opportunity lies in formal employment. In fact, some of the most impactful businesses started in informal sectors and eventually grew into full enterprises employing dozens.

Look at the giants: Action over education alone

Many of the world’s richest individuals think Steve Jobs, Elon Musk, Richard Branson, and Mark Zuckerberg didn’t wait to complete their education before creating value. Some returned to finish their degrees, others didn’t. But the point is: they didn’t wait for an opportunity. They created one.

This is not a dismissal of education it’s a challenge to those who hold degrees but still feel stuck. Use your knowledge, combine it with creativity and courage, and start small. We must stop tying our future to job offers and begin anchoring it in innovation.

If every graduate who can’t find a job created a micro-enterprise that employed just two people, we would see the unemployment rate drop drastically. If young professionals pooled resources to start group businesses or cooperatives instead of upgrading their iPhones, we’d start seeing economic activity driven by citizens, not outsiders.

Conclusion: Build to last, not to impress

Namibia doesn’t lack talent; it lacks direction. Our youth need to start building lives and assets that last, not buying things to impress. Debt should fund growth, not gratification. Let us reframe how we view loans, employment, and education. The earlier we change this narrative, the quicker we empower our people to rise above debt and unemployment.

Mentorship, discipline, and the courage to do things differently will shape the next generation of financially secure and independent Namibians.

*Ronald Mutakela is the Founder and CEO of Mutakela Empire Group. He is a passionate marketing and branding enthusiast, entrepreneur, and business coach committed to mentoring young professionals and reshaping the narrative of wealth creation in Namibia.