Old Mutual Namibia along with Launch Namibia, the Financial Literacy Initiative (FLI) and the United Nations Development Programme (UNDP) Accelerator Lab, has launched the Old Mutual Sustainable, Economic & Empowerment Drive (OM SEED) initiative. 

Mufaro Nesongano, the manager of communications at Old Mutual Foundation explained that: “OM SEED is an initiative we have endorsed for the next three years, starting this year. 

We will be targeting the grassroots market in three randomly selected towns across the 14 regions annually. This year, we have specifically selected Keetmanshoop, Oshakati and Windhoek, as these towns are strategically located to impact and create value within the deep-seated communities.”

Ashante Manetti, Acting marketing and communications executive continued by highlighting that: “At Old Mutual Namibia, we believe in the true power of collaboration.

 By working alongside the Financial Literacy Initiative, a national platform to enhance financial education and Launch Namibia, who identify as a SMME market player, this shows our commitment of partnering with organisations who are doing exceptional work for the Namibian SMME sector.”

Old Mutual Namibia, along with its partners aim to empower 180 grassroots businesses by offering training on financial sustainability, business running ethics and sustainable business practices from 60 chosen applicants per town. 

Of these, 20 will qualify to pitch to a panel of three judges and of the 20, three winners will be selected per town to win their share of N$85 000 to upscale their businesses. Applications will open on 5 July and will close on 22 July 2022. Application forms are readily available at the Old Mutual branches in each of the respective towns of Keetmanshoop, Oshakati and Windhoek. 

The chosen participants in Windhoek will have the opportunity to partake in OM SEED on 3 and 4 August, while those in Keetmanshoop can look forward to taking part on 10 and 11 August and those in Oshakati will have the opportunity to do so on 17 and 18 August 2022.  “Through the OM SEED, we want to empower our entrepreneurs to take charge of their future, to be able to cultivate and grow their business ideas and be able to expand their businesses. Through training, mentoring, leadership and guidance, this initiative can empower our local entrepreneurs to thrive and one day empower others to follow suit,” Nesongano concluded.