The government will fund various youth programs, aimed at capacity building and skills development.
In the budget tabled by the Finance Minister, Iipumbu Shiimi on Wednesday, funding is availed for charcoal production projects through the National Youth Service, as well as for a youth credit scheme and 121 rural youth enterprises, under the Ministry of Youth.
Iipumbu Shiimi revealed that Agribank has so far disbursed N$25,6 million to women and youth towards promoting inclusivity.
The Development Bank of Namibia (DBN) has approved N$15,5 million to qualified and skilled young entrepreneurs through its skills-based lending facility.
Investments have also been made into expanding access to technical training, with three new Vocational Training Centres under construction at Keetmanshoop, Khorixas, and Nkurenkuru.
The VTCs, Shiimi says, will produce the technical skills required in the value chains of upcoming industries, such as oil and the green hydrogen sectors.
In addition, the Environmental Investment Fund is rolling out a green concessional loan facility targeting youth entrepreneurs interested in investing in climate adaptation instruments.
The Environmental Investment Fund (EIF) has committed to deploy N$72 million over the next 12 months, an amount expected to grow to N$300 million by 2024.