Windhoek: The Development Bank of Namibia (DBN) is conducting a two-day business development seminar in Mariental aimed at equipping young entrepreneurs with skills to develop sustainable businesses and improve the quality of funding applications. The training started Thursday and is being conducted as part of the National Youth Development Fund (NYDF) training programme in collaboration with the Office of the Governor of the Hardap Region and the Hardap Governor's Youth Desk.

According to Namibia Press Agency, the manager of DBN's Mentoring and Coaching Unit in the SME Finance Department, Paul Egelser, said the training was organised after the bank identified recurring challenges in applications submitted by young people. Egelser highlighted that addressing these recurring problems required direct engagement with the youth in the regions.

The seminar focuses on entrepreneurship, business planning, and aiding young individuals in developing businesses that address problems within their communities. Egelser emphasized the importance of linking business operations to financial aspects, stating, "We want to help the youth understand - how do you put a business plan together. We want to help the youth understand that your operations must translate into the finances of the business."

The first session provided participants with background information on entrepreneurship and explained some challenges identified in funding applications. The second session focuses on the practical aspects of developing a business plan, including identifying a viable business idea and translating it into a workable and sustainable enterprise. Egelser noted that the ultimate objective is to make a meaningful impact on young entrepreneurs and ensure better quality applications are submitted to institutions responsible for youth funding.