President Netumbo Nandi-Ndaitwah says N$62.3 million has been disbursed to 140 youth projects so far.
As a result, 722 jobs have been created.
The president said this at the 35th Ordinary Session of the African Peer Review Forum of Heads of States and Governments in Adis Ababa, Ethiopia, on Friday.
She was providing feedback on the implementation of the national programme targeting youth unemployment in Namibia.
The report makes six recommendations, which includes the establishment of a mechanism to coordinate and consolidate funded programmes across government offices, ministries and agencies.
Other recommendations include reforming the education system with a strong emphasis on early childhood development and entrepreneurial development, strengthening technical and vocational education and training, implementating procurement and local content, and strengthening agro-based value chains.
The establishment of the Welwitschia Sovereign Wealth Fund was further recommended to benefit young people.
The president said the National Youth Development Fund, aimed to ease access to business capital and support youth entrepreneurship, was launched in 2025, with an amount of N$500 million.
“The fund provides loans and grants without the requirement of collateral, thereby removing one of the longstanding barriers faced by young entrepreneurs.
“N$500 million has been allocated to the fund, of which to date N$62.3 million has already been disbursed to 140 projects, creating approximately 722 jobs for the youth,” she said.
To ensure a higher success rate, she explained that aspiring entrepreneurs receive mentorship, among other forms of support, through the Development Bank of Namibia.
She said the bank has since trained more than 400 young people under the 121 Rural Youth Enterprises Project across all 14 regions.
“A continent where young people are uncertain about their future is a continent at risk of failure.
“Let us not fail Africa. Let us not fail the young people of this beautiful continent. Let us give hope of a bright future to the youth of our continent. As we usually say, youth is our future,” she said.
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