A masterclass aimed at equipping entrepreneurs with critical skills on how to scale their enterprises and create jobs in the country was held in Windhoek on Thursday.  

The masterclass session, organised by Stanford Seed Masterclass in collaboration with De Beers Group and the Stanford Seed Southern Africa Network, is designed to inspire growth, innovation, and leadership excellence in those who want to scale up their enterprises.

Daniel Malherbe, the President of Stanford Seed Southern Africa, said, "What we see as a challenge – as the biggest challenge for Africa – is that microenterprises and small businesses are not becoming medium enterprises. That's it; it's as simple as it is, and Stanford Seed was built around educating, supporting, uplifting, mentoring and creating a platform for these businesses that exist in Africa that have the potential to address poverty in the long term."  

Helena Mootseng, the Corporate Affairs Manager at the Namibia Diamond Trading Company (NDTC), encouraged entrepreneurs to "leave here not just inspired but equipped to make a tangible impact in the business community in Windhoek and in Namibia."

The Founder of Ombu Capital, Vetumbuavi Mungunda, in his presentation, identified lack of financial discipline, low level of investment readiness and business awareness and inadequate governance within MSMEs as some of the issues posing risks towards the growth of MSMEs. 

However, Mungunda said there are comprehensive support mechanisms to ensure project success and maximise its impact, such as networking opportunities that offer access to mentors, investors, and business management. 

"If I look at MSMEs and some of the things we have worked with, one of the points is that we will need, as a society, to look at how we channel capital into opportunities for social progress and sustainable economic growth while still delivering a financial return."

Some NBC News interviewees said that governance and transparency in MSMEs were their biggest concerns.

Stanford Seed is an initiative of the Stanford Graduate School of Business that partners with entrepreneurs in emerging markets to help them build thriving enterprises that transform lives.