In a bid to address the issues surrounding small and medium enterprises (SMEs) in Namibia, Popular Democratic Movement (PDM) MP Maximalliant Katjimune tabled a motion aimed at investigating bottlenecks hindering SME financing in the country.

The motion, according to Katjimune, seeks to unlock greater access and economic potential within this vital sector of the economy.

The SME sector, a cornerstone of any nation's economic landscape, stands as a significant contributor to global enterprises, workforce employment, and GDP, with Namibia reflecting these trends. 

Namibia Financial Institutions Supervisory Authority (NAMFISA) has launched its 2023 FINTECH Square programme.

The regulator hopes to engage stakeholders in the transition to digitisation and financial inclusion, exploring concepts and best practices for industry, innovators and customers alike in the non-banking financial sector.

Fintech Square is a concept that became popular post the 2008 financial crisis.

Cooperation between China and Namibia to enhance small and medium enterprises in the country can be a gateway for economic growth and help tackle high unemployment rates.

This is the sentiment of Sakeus Ikela, a representative of Namibian youth at the 7th China-Africa Youth Festival currently underway in Beijing.

The week-long youth festival will see young African leaders from 49 African countries engage with officials from different industries.

They will also visit different sites and exchange views.

The Patron of the Rundu Annual Trade Fair, Minister John Mutorwa, has called on SMEs to be innovative and exchange expertise to grow their business ventures.

Mutorwa officiated at the official opening of the 2022 Rundu Annual Trade Fair.

SMEs, Mutorwa said, contribute greatly to any town's socio-economic development, hence, the Rundu Expo is a fertile ground for the exchange of ideas.

Mutorwa believes the trade fair is the best platform for local entrepreneurs to showcase their products and services.

Namibian entrepreneurs have once again been granted an opportunity to scale up their businesses through the Innovation Bridge Portal-IBP500 program.

Although Namibia is on the right track in terms of investing in small businesses, there is still a huge gap in the sub-ecosystem concerning policy, funding and start-up training.

Start-Up Namibia has partnered with the World Bank to enroll 100 entrepreneurs from Namibia in the programme.