(3 Minutes Read)
The Namibian government has officially launched the National Youth Development Fund (NYDF) — a bold new initiative aimed at fostering youth entrepreneurship and job creation across the country. The launch took place in Gobabis, where Prime Minister Elijah Ngurare unveiled the fund and announced the first cohort of beneficiaries.
During the announcement, Prime Minister Ngurare revealed that 42 youth-led projects, drawn equally from all 14 regions, will be the initial recipients of financial support, collectively valued at N$14.78 million. These projects were selected from a pool of 11,475 applications received during the fund’s pilot phase.
Ngurare emphasized that while only 42 projects are being supported in the first round, this does not imply exclusivity. Rather, the fund is expansive and intended to benefit a broader group of young entrepreneurs over time. He added that these initial projects are expected to generate at least 315 jobs.
The NYDF is a N$500 million initiative, with N$257 million earmarked for disbursement in the 2025/26 financial year. The fund is structured to offer affordable loans and grants to young Namibians between the ages of 18 and 35, supporting a wide range of enterprise types — from early-stage start-ups to expanding businesses.
Start-up enterprises will be eligible for loans ranging from N$60,000 to N$200,000 at a low interest rate of 2%, while businesses seeking to scale can access up to N$1 million, albeit at slightly higher interest rates. Notably, the fund requires no collateral, making it more accessible to previously excluded youth. In addition, a grace period of up to 12 months will be granted before loan repayments begin.
The selected projects span diverse sectors including agriculture, poultry, renewable energy, auto repairs, welding, fisheries, recycling, leather processing, brick making, film production, logistics, and more. Youth cooperatives in Kunene and Oshana regions were among the recipients, as well as creative industry initiatives in the Khomas Region.
To ensure that recipients are well-prepared to manage and grow their businesses, the government will provide entrepreneurship training to all beneficiaries. Meanwhile, those whose applications were unsuccessful will not be left behind — they will be offered capacity building and mentorship opportunities to improve their chances in future funding rounds.
Prime Minister Ngurare stressed that the NYDF’s operational criteria must remain youth-centered and adaptable. “The criteria must be clear and youth-friendly,” he said. “If we find that they are not helping our young people, we must be ready to revise them to better serve the Namibian youth.”
Read Also;
https://trendsnafrica.com/mozambique-to-focus-on-youth-welfare-unveils-first-100-days-program/
The fund will be managed by a consortium of institutions, including the Development Bank of Namibia (DBN), Agribank, and the Environmental Investment Fund, with NamPost expected to join in its administration. Contributions from both local institutions — such as NamibRe, DBN, and NIPAM — and international development partners like the African Development Bank and the United Nations will be instrumental in ensuring the fund’s long-term sustainability. With this fund, the government aims to unlock the untapped economic potential of Namibia’s youth, catalyzing inclusive growth and sustainable development across all regions.