The Ministry of Industrialisation and Trade has waived annual penalties for 87 companies in the Ohangwena region during the 2023/24 financial year.
This was revealed by regional governor Sebastian Ndeitunga yesterday during his state of the region address at Eenhana.
Ndeitunga said this comes after the ministry facilitated the registration of over 100 close corporation companies and trained 100 small and medium enterprises (SMEs) through the Empretec Programme, with the majority being youth and women.
“The ministry also supported 13 SMEs with equipment through the Equipment Aid Programme worth N$343 497,” Ndeitunga said.
Ndeitunga added that in terms of employment and training, 20 youths were trained between November and December 2023, under the Namibia Youth Credit Scheme, with 15 graduates receiving loans of N$8 000 each to start or expand their businesses.
“The 121 Young Enterprise funded the Ondobe Youth Enterprise with a loan of N$350 000 and the Oshikango Youth Enterprise received N$108 354,” he added.
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
