Navachab lays ‘golden egg’ for 10 entrepreneurs

Ten budding entrepreneurs from Karibib, Usakos, and Otjimbingwe were on 5 September named the first-ever recipients of the Golden Egg Project Award, an initiative spearheaded by QKR Navachab Gold Mine.

The award ceremony took place at Karibib last week, aiming to fuel small and medium enterprises (SMEs) by providing each recipient with up to N$150 000.

“First and foremost we want to remove the impediment of a lack of access to funding by providing each of the beneficiaries with seed capital,” QKR Navachab Gold Mine managing director George Botshiwe said.

He stressed the importance of this initiative, calling it “history in the making”.

“This was a tough competition with brilliant ideas judged by an expert panel of judges,” he said.

Launched in May, the Golden Egg Project is aimed at enabling aspiring business people to establish or expand their ventures at Karibib, Usakos, and Otjimbingwe.

Initially, the company had plans to shortlist 30 participants for training out of the 503 applicants it received.

However, due to overwhelming interest and the need for skills training, this number was expanded to 48 participants.

Botshiwe said the selection process was “indeed credible” as it was managed by an expert external consultant with a notable track record. Of the 48 shortlisted candidates, 24 were from Karibib, 12 from Usakos, and 12 from Otjimbingwe.

The gender representation comprised 19 women and 29 men, all of whom had the chance to present their business ideas to a panel of experts.

Erongo governor Neville Andre highlighted the pivotal role SMEs play in the socio-economic fabric of the country.

“A study stated that SME contribution to gross domestic product in Namibia was about 12%, and the employment share was about 20%.

“SMEs can be the catalyst for poverty reduction by providing much-needed employment, entrepreneurship, and self-sufficiency,” he said.

Andre commended QKR Navachab Gold Mine’s legacy of commitment to community welfare, and said development will “undoubtedly make a difference in this constituency”, further complementing the government’s policy and support towards the empowerment of local entrepreneurs.

While financial support is crucial, both Botshiwe and Andre stressed the importance of capacity building and business training for the awardees, Botshiwe said.

“We made sure the participants received financial management, entrepreneurship and leadership training as well as an opportunity to put together a presentation of their business and pitch their business idea to a panel of judges,” he said.

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