Entrepreneurs get business boost

“Winning N$10 000 for my business is a significant milestone,” said entrepreneur Matheus Iilwenya (34).

“It provides a financial boost and will allow us to invest in marketing and customer engagement initiatives, strengthening our brand presence in the market,” he said.

Iilwenya was recently awarded capital and business registration after participating in a One Economy financial literacy workshop. Iilwenya won the first prize of N$10 000, while Lavinia Titus, in second place won N$8 500. Ndapandula Maria Teofilus received business stock worth N$4 000 and Heskiel Michael and Justina Shilongo received business stock worth N$2 500 each, while Nadia Iita was awarded business registration.

Iilwenya is the founder Windhoek Empero Grigio Investment, a waste management and recycling company established in 2020.

He said the funding will help his business achieve its mission of promoting environmental sustainability and offering top-notch waste management services.

The business provides comprehensive waste collection and recycling services using advanced equipment to ensure efficient, eco-friendly and cost-effective solutions for residential, commercial and industrial clients, as well as municipalities.

The main highlight of the workshop was learning essential skills and strategies for effective financial management, he said.

“I gained insights into budgeting, financial planning and cash flow management, which are crucial for the sustainability and growth of our business.”

He said these lessons will help him make informed financial decisions, optimise resource allocation and ensure long-term profitability.

One Economy Foundation spokesperson Ileni Hitula said the second edition of the financial literacy workshop saw 53 young entrepreneurs from the Khomas region attending the two-day training.

Participants were taught how to maintain good mental health when faced with challenges, engaged in peer learning opportunities with the Tidy Tekkies team and Acelera Namibia. They also took part in an information sharing session with Bank Windhoek, the Development Bank of Namibia and First National Bank.

The sessions featured renowned speakers such as brand strategist David Wamambo, who delivered a presentation on branding and marketing and EY Namibia’s senior audit manager Klestina Kauhondamwa, who spoke on the psychology of money.

Bank Windhoek manager of emerging small and medium enterprises Jenevieve Swartz and FNB transactional sales manager Otiniel Ndivayele held sessions on business finances and budgeting.

Co-founder of the start-up Yyeni AI and winner of the Yo! financial literacy workshop that took place last year, Vitalis Haupindi, presented a session on artificial intelligence and financial literacy.

At the end of the workshop, micro-entrepreneurs were awarded with capital and business registration.

Iita (23), who was awarded business registration, told The Namibian she employs four people, one nail technician, two hairdressers and an administrator/assistant.

“I started my businesses, a beauty salon known as Beauty with Nadia in 2018, when I was still a Grade 11 pupil. Registering my business has been a significant milestone for me as I’ve been thinking about it for a long time. It has not only legitimised my operations but also opened doors to various opportunities, including access to funding from financial institutions and partnerships,” Iita said.

She further said being officially recognised has boosted both her confidence and credibility, allowing her to better serve her clients and grow her business.

“The financial literacy workshop was impactful and equipped me with skills and knowledge which will be influential in steering my business towards sustainability and growth. I’m truly grateful to the One Economy,” she said.

Another workshop participant, Teopolina Shingenge (27), who practices sustainable agriculture at Groot Aub, works as a tutor and runs a laundry and catering business, said attending the workshop helped her understand the psychology of money and in-depth business concepts that will benefit her businesses.

Programme coordinator Miina Shakela said awarding funds is necessary to provide capital and allow the winning participants to expand their businesses.

“Although not everyone walked away with business funds, stock or registration, the participants gained valuable insights and knowledge on financial literacy,” she said.

Shakela commended the partners and sponsors for their support in making this edition of the workshop a reality.