SMEs to get free financial training

Free financial literacy training will be offered nationwide to strengthen small businesses, empower young people and women, and equip banks to better serve entrepreneurs.

Namibia Investment and Finance Academy (Nifa) and the German Development Organisation for International Cooperation (GIZ) will be offering this free training to small businesses across the country.

The training is aimed at strengthening entrepreneurship and enhancing the capacity of financial service providers (FSPs) to better serve the micro, small and medium Enterprises (MSME) sector.

According to a statement issued by Nifa, the training will also enable banks and lenders to design inclusive, market-relevant products and improve risk-assessment capabilities.

“The initiative seeks to deliver targeted training and capacity building for MSMEs and FSPs, equipping entrepreneurs with practical skills in financial literacy and governance, business management and market readiness,” the statement reads.

The project is funded by the German federal ministry of economic cooperation and development, and implemented by the GIZ ProBATS II project.

It is organised in partnership with Competency-based Economies through Formation of Enterprises (Cefe) International and Nifa.

Nifa chief executive Arinze Okafor says collaboration with Cefe International involves an experiential approach with sector-relevant content and stronger engagement with financiers.

“This initiative is about converting potential into performance. We are building a pipeline of market-ready Namibian enterprises, particularly among women and the youth, while ensuring that financial institutions are better equipped to meet their needs,” she says.

Using elements of the internationally recognised Cefe methodology, the initiative will be delivered in the coming months with workshops taking place across Namibia.

The training will include regional workshops for MSMEs, upskilling and ideation sessions for FSP officers, and a series of stakeholder information sessions in collaboration with the Namibia Investment Promotion and Development Board, policymakers, development partners and business support organisations.

Additionally, FSP participants will receive Bloomberg Environmental, Social and Governance certification, equipping them with the knowledge and tools to integrate sustainability into financial decision-making.

“Selected MSME participants will also gain access to Bloomberg Finance Fundamentals training, enhancing their understanding of markets, investment principles, and financial analysis.

In addition, the initiative facilitators will embark on a professional development journey through the Harvard ManageMentor platform,” Okafor says.

According to the statement, the initiative targets 50% women participation and prioritises youth engagement to ensure that underrepresented groups benefit meaningfully.

“The heart of our work is rooted in the development of strong and conducive financial systems that promote access to finance for Namibian MSMEs,” says GIZ ProBATS II project team leader Christoph Oldenburg.

Speaking on the collaboration, Cefe International managing partner Tom Buehler says: “Our mission is to unlock the potential of entrepreneurs by equipping them with the skills, confidence and connections they need to thrive.”

Applications for MSME participation are now open to both formal and informal businesses, including start-ups and growth-stage enterprises, with a strong focus on women and youth founders.

In an age of information overload, Sunrise is The Namibian’s morning briefing, delivered at 6h00 from Monday to Friday. It offers a curated rundown of the most important stories from the past 24 hours – occasionally with a light, witty touch. It’s an essential way to stay informed. Subscribe and join our newsletter community.