Out of 11,475 applications received from all 14 regions for the National Youth Development Fund (NYDF), only 42 successful projects are set to benefit from the government-backed financial rollout initiative.
Each region has three projects that will benefit from the fund.
Speaking at the official launch of NYDF at Gobabis, Prime Minister Elijah Ngurare stressed that youth empowerment remains one of the key pillars for the 8th administration.
The Premier added that this intervention is not based on assumptions but on evidence of the challenges facing the youth and the clear demand for opportunities that can unlock their potential.
"It is this challenge that has compelled us to act innovatively and decisively and to establish the National Youth Development Fund; therefore, we are here today because we believe in nurturing the aspirations and ambitions of our youth for a brighter, inclusive future," he said.
Dr. Ngurare added that 'The theme for today is therefore aptly titled 'Awakening the Namibian Youth Entrepreneurial Aspiration'. The fund is capitalised at N$500 million, with N$257 million already allocated for the 2025/26 financial year. It will address the gaps that have held back youth entrepreneurship, and the grant is not a handout; it is a hand up. You, the youth of Namibia, have to become builders of businesses, creators of jobs, and drivers of innovation."
Dr Ngurare said while the financing model remains inclusive, all beneficiaries will also undergo entrepreneurship training and mentorship to prepare them for success.
The National Youth Development Fund will now be rolled out nationally under the Ministry of Finance through a multi-channel approach involving the Development Bank of Namibia, Agribank, the Environmental Investment Fund, and Nampost.
Omaheke Governor Pijoo Nganate pointed out that the fund is instrumental in unlocking youth potential.
"The fund prioritises sectors which are critical to our development: agriculture and agro-processing to strengthen food security; green and friendly projects to address climate change and promote sustainability; manufacturing and value addition to reduce imports and build local capacity; as well as ICT, creative industries, tourism, hospitality, logistics, retail and services."
National Youth Council Director Calista Schwartz-Gowases pointed out that it is a milestone achievement for youth empowerment, and it is expected from those who are selected to go an extra mile and create jobs.
"Today, the government of Namibia responds with the resounding 'yes'. Today, we give them these opportunities. What excites me most is the ripple effects that this fund will create, as beneficiaries will become tomorrow's job creators, mentors and investors. We are not merely funding business; we are nurturing an ecosystem that will sustain itself for generations to come."
The Kunene Region is topping the list in terms of loan amount allocation at N$2.2 million, followed by Zambezi and Omaheke, at N$1.7 million and N$1.4 million, respectively, while the Oshikoto Region remains the least with N$465,000.