Govt should support SMEs – Nghikembua

GOBABIS – The patron of the Omaheke Regional Youth Enterprises Expo, Sakaria Nghikembua, has called upon Government to provide a legislative environment which makes it easy and affordable for unemployed youth to start small businesses.

Nghikembua made these remarks during the official opening of the second Youth Expo here on Friday. He said small and medium-sized enterprises (SMEs) benefited the nation by creating jobs, generating wealth and alleviating poverty.Nghikembua, who is also Nampost’s Chief Executive Officer, said that the SME sector is estimated to provide over 100 000 full-time jobs.He indicated that the sector was creating some 16 000 new jobs annually, compared to 3 000 to 4 000 jobs created in the formal business sector.”While this is a noteworthy contribution, it is not as what we have seen in developed and newly industrialised countries.It is therefore clear that the SME sector in Namibia holds great potential which we should tap into,” he emphasised.Nghikembua said there are over 534 000 jobless people in Namibia, while the country holds so much promise.He pointed out that poverty alleviation could only be achieved if the Government concentrated on the development and support of the SME sector in Namibia.On financial institutions, Nghikembua said that commercial banks should be aggressive in providing financial support to SMEs.”More than merely providing funding, however, banks should also implement rigorous support programmes for SMEs, such as business plan formulation, training and mentoring of small business owners,” he said.Nghikembua said by nurturing these small businesses, the banks would be creating their own customers and in the process ensuring their own growth.”It is not enough for banks to simply want to support businesses that already exist.They should help create new ones,” he added.The event, which ended on Saturday, attracted more than 50 exhibitors from around the Omaheke Region.NampaHe said small and medium-sized enterprises (SMEs) benefited the nation by creating jobs, generating wealth and alleviating poverty.Nghikembua, who is also Nampost’s Chief Executive Officer, said that the SME sector is estimated to provide over 100 000 full-time jobs.He indicated that the sector was creating some 16 000 new jobs annually, compared to 3 000 to 4 000 jobs created in the formal business sector.”While this is a noteworthy contribution, it is not as what we have seen in developed and newly industrialised countries.It is therefore clear that the SME sector in Namibia holds great potential which we should tap into,” he emphasised.Nghikembua said there are over 534 000 jobless people in Namibia, while the country holds so much promise.He pointed out that poverty alleviation could only be achieved if the Government concentrated on the development and support of the SME sector in Namibia.On financial institutions, Nghikembua said that commercial banks should be aggressive in providing financial support to SMEs.”More than merely providing funding, however, banks should also implement rigorous support programmes for SMEs, such as business plan formulation, training and mentoring of small business owners,” he said.Nghikembua said by nurturing these small businesses, the banks would be creating their own customers and in the process ensuring their own growth.”It is not enough for banks to simply want to support businesses that already exist.They should help create new ones,” he added.The event, which ended on Saturday, attracted more than 50 exhibitors from around the Omaheke Region.Nampa