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More than 70% of Namibia’s small and medium enterprises (SMEs) are now headed by women, according to First National Bank (FNB) Namibia—an indication of a significant shift toward broader and more inclusive participation in the country’s entrepreneurial landscape.
Connie-Marlene Theyse, FNB Namibia’s Head of Enterprise Banking High Touch and Mid Corporate, explained that this milestone shows the expanding influence of women in shaping the nation’s business sector. She highlighted global trends that point to women’s growing leadership in emerging markets. “By 2025, microeconomic enterprises will drive 60% of emerging economies, and 58% of these businesses will be led by women. Here in Namibia, we’re already ahead—over 70% of SMEs are run by women. This shows that Namibia has stepped into a new era of entrepreneurship,” Theyse said.
She added that entrepreneurship—once undervalued—is increasingly recognised as a vital contributor to innovation, job creation, and national progress. “Whether sparked by a bold new vision or a simple idea, Namibian entrepreneurs are creating businesses that grow, inspire others, and lead the way,” she noted.
However, Deputy Minister of Education, Innovation, Youth, Sport, Arts and Culture, Dino Ballotti, pointed out that the country still needs to shift outdated attitudes toward entrepreneurship.
“Entrepreneurship is still seen as taboo in Namibia. We need to promote it not only as a survival strategy, but as a path toward building scalable, job-creating businesses. That’s how we support sustainability and build a vibrant economy,” Ballotti said.
FNB Namibia emphasised that its support for SMEs aligns closely with national development priorities, particularly those focused on long-term business resilience. Nesdha De Jongh, the bank’s SME Sub-Segment Head, affirmed FNB’s dedication to supporting entrepreneurs throughout their business journeys.
“It’s not only about growing businesses. It’s about cultivating an environment where entrepreneurship can flourish and positively influence Namibia’s development goals,” De Jongh explained. He added that the bank’s commitment goes beyond traditional financial support.
“Business growth requires more than funding—it needs knowledge, networks, and ongoing mentorship. We aim to stand by entrepreneurs and provide the practical tools they need to progress from start-up to scale-up.”
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Entrepreneur and speaker Connie Ferguson, reflecting on her own business experiences, urged entrepreneurs to remain grounded in authenticity and purpose. “As African entrepreneurs, we must own our stories. Your ‘why’ must be clear, because understanding your purpose helps you navigate challenges,” she said. “Your individuality is your competitive advantage. Know your worth, embrace your story, and confidently promote what makes you different.”
