New Era Newspaper

New Era Epaper
Icon Collap
Home / Funding rural entrepreneurs

Funding rural entrepreneurs

2022-07-20  Paheja Siririka

Funding rural entrepreneurs

As a means of addressing the challenge of unemployment, the youth ministry in collaboration with the Development Bank of Namibia, recently advanced loans to the tune of N$8 million to 28 youth enterprises from across the country.

These successful rural youth enterprises specialise in, among others, leatherworks, tailoring, cleaning detergents manufacturing, retail and bakery, internet café (ICT), printing, brickmaking, carpentry and joinery, event management, welding and fabrication, auto mechanics and supplying of building materials.

The agreement between DBN and the businesses is that each should employ at least 10 youths.  

Youth Corner caught up with three of the 28 entrepreneurs to find out what the loan means to their businesses.

Peneyambeko Wapota (31), chairperson of Eengodi Youth Trading Enterprise, said the main aim of establishing the initiative is to create employment among youth within the Eengodi constituency and provide the community in Oshikoto with building materials.

“As the chairperson of this enterprise, the most difficult thing is obtaining finance, as this enterprise is still not operating. Also, some members resigned, as there is no income. Furthermore, transport costs from the village to town to register this enterprise with different entities, a challenge to us,” she shared.

Wapota added that the DBN loan will be used to start and buy stock for their business.

She advised the youth not to wait on the government to create employment, but stressed the need for them to come up with an idea of starting a business to give themselves an income and create employment for others within their areas.

Lea Nelao Lebeus, representing the Walvis Bay Rural Youth Mini-market, said the loan will aid the enterprise in buying stock and all relevant materials and equipment required to make it successful and operational. 

She added that since they are new in the industry, it is a big challenge to penetrate the system as they are not known, which will affect their operations.

“We were established in 2018 and aim to become an important part of the youth in the region, in ensuring that we create platforms and opportunities for everyone. One way or the other, we will make sure we reach this goal, especially now that we have been boosted through this loan; we appreciate it,” stated the joyous Lebeus.

Sirkku Nanguronhi Kangayi from Nkurenkuru Youth Events and Management said the DBN loan means a lot to them, because it will make the business easier and will ensure their dreams become a reality.

“We saw the need for Kavango West at large to have such an enterprise, because most of the time we have big events in our town but organisers hire equipment from elsewhere. So, we saw the need of having such an enterprise for our people not to struggle to hire or rent things from other regions,” she said.


2022-07-20  Paheja Siririka

Share on social media