Agribank has approved N$2,9 million in funding through the National Youth Development Fund to support young entrepreneurs in the Ohangwena Region, with N$1,5 million already disbursed to beneficiaries.
The initiative seeks to address poverty through agriculture by equipping young people with financial resources to establish and grow farming enterprises.
As part of its monitoring efforts, Agribank recently visited several beneficiaries in the region to assess the progress and sustainability of their projects.
The National Youth Development Fund is a government-backed financing programme offering collateral-free loans at interest rates ranging from 2 to 4% to Namibians aged between 18 and 45 who wish to establish or expand their businesses.
The fund provides financing ranging from N$60,000 to more than N$1 million, with beneficiaries given up to five years to repay their loans and a 12-month grace period.
Priority is given to sectors such as agriculture, green technology and manufacturing.
In the Ohangwena Region, eight applicants have been approved for funding, with five already fully financed and their businesses operational.
Their ventures range from poultry farming and goat rearing to piggery and horticultural production.
Agribank's Northern Regional Manager, Etuhole Ingo, recently visited some of the projects to evaluate their progress and gain insight into the beneficiaries' operations.
Among the projects visited was that of Sylvia Linus, who is establishing a poultry farming enterprise at Oluhapa Village in the Okongo Constituency.
Linus is expecting the delivery of her chicks next month, after which she plans to begin production.
"I choose poultry farming because we have a shortage in the Okongo constituency."
Another beneficiary, Johannes Ndawedapo, is showcasing how investment in youth-led agricultural enterprises can contribute to job creation and strengthen local food production.
His Onangolo Piggery project, situated at Onangolo village in the Eenhana Constituency, is already operational, supplying pork to the local market.
Since its establishment, the business has created employment opportunities for more than 12 young people, with five currently employed on a permanent basis.
"I am grateful for the government's initiative to support young people. We have benefited, and as you can see, we have already started. My message to the youth is to take this opportunity seriously and make the most of it. Many young people have business ideas, but access to finance remains a challenge. When financial assistance is provided, we must use it wisely, productively and responsibly."
Despite encountering various challenges, Ndawedapo has managed to build his operation to 58 pigs at different stages of production.
He highlighted that maintaining high standards of hygiene, ensuring proper feeding and administering medication correctly are critical to the success of the enterprise, particularly in producing safe and quality pork for consumers.