Approximately N$14 million has been spent on Small and Medium-sized Enterprises (SMEs) since the beginning of the year, Minister of Industrialisation, Trade and SME Development Immanuel Ngatjizeko revealed.
In an interview with The Villager, Ngatjizeko said through SME support programmes such as the Business Support Service Programme (BSSP), the ministry assisted 420 SMEs to the value of N$14 million.
“The ministry set up the BSSP to assist entrepreneurs to conduct feasibility studies, develop business plans and enhance business skills through hands-on training, including business monitoring and mentoring”, he said.
Ngatjizeko added that BSSP is available to all entrepreneurs countrywide, with special focus to be given to Small and Medium-Sized Enterprises (SMEs) to be developed into successful ventures as an alternative source of productive income.
“The success of this entrepreneurship development programme and creating job opportunities for Namibians will contribute to national development, in line with the aspirations of Vison 2030”, the minister stated.
In addition, an action plan for implementing the Growth-at-Home strategy for industrialisation has been developed and finalised on 30 June 2015.
Namibia’s Growth-at-Home strategy reinforces the importance of accelerating economic growth, reducing income inequality and increasing employment.