Some 66 young individuals have been successful in securing over N$37 million in funding for their entrepreneurial endeavours. This follows an announcement by the Ministry of Finance and Development Finance Institutions that the second group of successful candidates have been selected under the National Youth Development Fund.
The selected youth-driven projects will be financed by N$37.75 million and include a wide variety of sectors such as renewable energy, horticulture, poultry farming, veterinary care, recycling and waste management, as well as animal feed and goat farming.
In a statement, finance ministry spokesperson Wilson Shikoto elaborated that the funding will support the creation of 404 jobs.
“The approved projects cover every region and include enterprises such as poultry production, livestock rearing, crop farming, biomass processing, aquaponics, innovative technology services, recycling operations and renewable energy installations. Loan amounts range from N$88 000 to N$1 million. All assessments and approvals were completed through Agribank and the Environmental Investment Fund,” Shikoto stated.
He added that a new call for applications is now open to keep the National Youth Development Fund active and accessible to young people.
“Applications will continue to be submitted through the governors’ offices. The ministry will keep announcing successful applicants from more than 11 000 submissions received during the pilot phase. Young people are encouraged to visit their governors’ offices during the first week of December to confirm the status of their applications”, Shikoto added.
The ministry further encouraged those not selected to seek guidance from their regional offices for future submissions, as the government remains committed to expanding opportunities for young Namibians and strengthening job creation across the country.
At the launch of the fund at the end of September in Gobabis, Prime Minister Elijah Ngurare said the pilot phase of the programme, which ran from 1 August to 4 September 2025, attracted more than 11 400 applications from all regions.
Ngurare affirmed that transparency and accountability will guide the implementation of projects under the fund. Of these, 6 111 projects were assessed by the Development Bank of Namibia (DBN), 5 070 agricultural proposals by Agribank and 294 eco-friendly projects by the Environmental Investment Fund (EIF).
The fund will also be protected, with a youth-led monitoring and evaluation framework supported by an integrated data system managed by the Office of the Prime Minister, the National Planning Commission and the information and communication ministry.
“Success will be measured by enterprises financed, jobs created, sustainability of funded businesses and overall resource mobilisation,” said Ngurare.
At the beginning of October, 42 young Namibians were selected as the first beneficiaries of the National Youth Development Fund for which government committed N$257 million in the 2025/26 financial year.
All beneficiaries of the fund will now undergo entrepreneurship training to prepare them for the market. The financing model of the fund stipulates that start-ups can access loans between N$60 000 and N$200 000 at an interest rate of 2%, while growth-phase enterprises can borrow between N$200 000 and N$1 million at an interest rate of 3%. Expansion enterprises exceeding N$1 million will be financed at a 4% interest rate.
The fund will also provide a grant window below N$60 000, complementing existing schemes such as the Credit for Youth in Business (Ministry of Education, Innovation, Youth, Sports, Arts and Culture) and the Income-Generating Activities scheme (Ministry of Gender Equality and Child Welfare).
To ensure long-term sustainability, the Fund will be supported through an endowment managed by the Bank of Namibia, with interest reinvested to create opportunities for future generations.
In addition to funding, the Fund will offer mentorship, training and market access.
-ebrandt@nepc.com.na