New initiative for entrepreneurs launched

The National Youth Council (NYC) has partnered with Bellatrix Investment Managers to launch the Next Generation of Entrepreneurs Facility (NextGen Facility).

The new programme will provide financial and mentorship support to young entrepreneurs in the micro, small and medium enterprises (MSMEs) sector.

According to Sharonice Busch, the executive chairperson of NYC, the initiative is aimed at tackling Namibia’s growing unemployment.

In its first year, the NextGen Facility will offer collateral-free business loans ranging from N$50 000 to N$100 000 over three years.The programme will target 20 to 30 young entrepreneurs across Namibia with a total of N$2,5 million due to be disbursed.

“We’re looking for young people with strong business ideas, either in the planning stages or those already operating and seeking to grow,” said Jesaya Hano-Oshike, the director at Bellatrix.

The NextGen Facility prioritises financing MSMEs and startups in sustainable agriculture community-based and sustainable tourism; renewable energy innovation and energy efficiency; natural resource value chains (including biomass and bush encroachment); and efficient use of natural resources and waste management or recycling.

“We will also consider businesses in other sectors based on merit,” said Hano-Oshike.

To qualify for a loan, young entrepreneurs must complete the NextGen Facility’s Incubation Programme, a two-month online course designed to equip them with essential business skills.

“The programme will help participants develop business plans, marketing strategies and financial management skills. This will hopefully reduce business failure rates among young entrepreneurs,” said Hano-Oshike.

According to Busch, many aspiring entrepreneurs encounter significant obstacles, particularly in securing the necessary capital to launch and sustain their ventures.

“Limited financial security, inadequate collateral, and a perceived lack of credibility due to limited experience are significant hurdles that can impede their progress,” said Busch.

She added that NextGen seeks to create a supportive environment for youth-led enterprises, contributing to poverty alleviation and economic growth in Namibia.