The Namibia Investment and Development Board (NIPDB) is hosting the 3rd Annual African Union Micro, Small, and Medium Enterprises (AU MSME) Forum, which is designed to foster financial empowerment and innovation for MSMEs across the continent. The five-day event commences today and is scheduled to end on Friday. 

The AU MSME Forum is poised to be a transformative experience, converging over 200 entrepreneurs, policymakers, investors and thought leaders from 54 African countries and beyond.

Adequately capacitated MSMEs can play a crucial role in job creation, economic diversification, and poverty alleviation, amongst others. The forum will thus serve as a platform for sharing best practices, innovative solutions, and policy frameworks to empower these enterprises to thrive in an increasingly competitive global market. This event aligns with Namibia’s broader vision of becoming a key player in Africa’s economic landscape by supporting the growth of its own MSME sector.  Likewise, the event’s objectives align with the NIPDB’s mandate of promoting the development of Namibian MSME through interventions to enhance capacity growth, new market penetration markets and contributing towards the country’s export basket.

The forum is scheduled to feature a series of interactive sessions, panel discussions, and networking opportunities designed to equip participants with the tools and knowledge needed to navigate the challenges and opportunities facing MSMEs today. The event is expected to attract high-level participation, including government officials, private sector leaders, and representatives from international organisations, all committed to advancing the MSME agenda in Africa.

For Namibian MSMEs, the event provides an opportunity to network and build potential partnerships with their counterparts from 53 African countries, to expand their businesses particularly in the context of the AFCTA which aims to increase intra-Africa trade. 

The NIPDB will also host the first AU Chelete Cage, which is a business pitching platform dedicated to providing financial and non-financial support to MSMEs and startups. The term “Chelete,” meaning “money” in the Silozi language, captures the event’s focus on helping businesses address financing challenges.

Key sponsorships for the summit have been received by various private sector entities, including the United Nations Development Programme Namibia (N$400 000), Momentum Metropolitan (N$300 000), Deutsche Gesellschaft für Internationale Zusammenarbeit (N$200 000), Bank Windhoek (N$200 000), M&G Investments (N$200 000) and Hollard Namibia (N$110 000). 

 “When it comes to MSMEs and the NIPDB, who really work hard to maintain and bring to life the potential that we have in our youth in Namibia, this is a cause close to the Momentum Group’s heart. These are the Namibians that need support and that have not had that breakthrough,” said Denille Roostee, group marketing executive at Momentum Metropolitan. 

“We see that this forum is a crucial event to empower MSMEs and startups in Namibia. This is also a crucial event to build a broad based and inclusive environment for startups and MSMEs, aligning with the national goals of broad-based economic development. 

The gathering of policy makers, decision makers and investors is a great opportunity to address funding challenges, but also challenges in the course of the daily work of MSMEs,” said Christoph Oldenburg, team leader at the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). “The jewel in our economic growth is the MSME sector, which has its own set of challenges to overcome. 

We put a lot of pressure on this sector to produce results and stay the course on a trajectory that they themselves have put into motion, including job creation, growing their market share and looking for trade opportunities beyond our borders,” added Bronwyn Moody, head of stakeholder engagement at Bank Windhoek. 

“Our own local statistics state only 12% of the GDP is driven by the MSME sector creating vast employment and business opportunities and energising our economy and our communities. So, we are very privileged to be part of this journey and to be partnering with our MSMEs community now and going forward to ensure that we all pull our country in the same direction,” said Sam Kauapirura, Hollard’s head of compliance and public relations.