The Olufuko Annual Cultural Festival dinner has raised more than N$200,000 which will go towards the hosting of the event.
The festival will be held from the first to the seventh of July at Outapi.
Businessman Johannes Kambwela pledged the highest amount of N$20,000, followed by Kambwa Trading and Rani Group with a pledge of N$15,000 each, while the Face of the Olufuko Cultural Festival, Maria Nepembe, will donate N$10,000.
Thus far, 257 exhibitors have registered to take part in the exhibition.
Outapi Mayor Selma Asino Shaumbwako says the Olufuko Cultural Festival is still facing the challenge of some sponsors pulling out because of misconceptions about the festival.
Omusati Governor Erginus Endjala called on those spreading unsubstantiated information to desist.
"Some people say apparently Olufuko is a wedding. Olufuko is not a wedding, and that is the perception. Some people are saying the way we initiate the girls is because we want them to get married, but this is not true."
In a speech read on his behalf by Trade and Industrialization Minister Lucia Iipumbu, Olufuko Patron Founding President Sam Nujoma says the festival remains a symbol of excellence and an important platform to educate the nation and promote cultural values, norms, and heritage.
"It is very encouraging to note that, among others, the aim and objective of the festival are to inform the nation about the cultural norms that sustained our previous generations. I am again urging the Olufuko preparatory committee to keep their focus and not divert from the original aim and objective of the Olufuko cultural festival."
Nujoma called on churches not to prevent their members from practising their culture because the constitution of Namibia, as the supreme law, gives freedom of association and identity to all citizens.
Outapi Town Council has set aside N$700,000 for the renovation of infrastructure at the Olufuko Centre