Windhoek: The National Youth Development Fund (NYDF) has approved approximately N$135 million in financing and disbursed about N$90.8 million to beneficiaries since its establishment, the Ministry of Finance announced on Tuesday. The fund, which is part of the Government's Sixth National Development Plan (NDP6), provides financing without conventional collateral requirements to support youth-owned enterprises.
According to Namibia Press Agency, the government has allocated N$258 million towards the NYDF for the 2025/26 financial year. This includes N$129 million for project financing, N$90 million for an Endowment Fund managed by the Bank of Namibia, and N$39 million for training, coaching, and mentoring. An additional N$50 million has been allocated for the 2026/27 financial year, while contributions from NamPort and NamibRe of N$5 million each have brought the fund's overall investment to N$317 million.
By August 2026, Development Finance Institutions (DFIs) participating in the program had received approximately 13,809 applications. The Development Bank of Namibia received about 11,000 applications, with roughly 5,000 processed. Financing valued at approximately N$67 million has been approved, with about N$40 million disbursed.
Agribank received 1,611 applications, approving 66 valued at approximately N$23 million, of which about N$11.8 million has been disbursed. The Environmental Investment Fund received approximately 1,198 applications, approving 99 valued at about N$45 million, with N$39 million disbursed.
The ministry highlighted the gap between applications received and those approved, emphasizing the need to strengthen support to applicants to improve conversion rates into viable, bankable, and sustainable enterprises.
Approximately 33 outreach sessions have been conducted nationwide by the ministry and participating DFIs, complemented by roadshows and participation in exhibitions, expos, and trade fairs. Information on the fund is also disseminated through radio, digital platforms, and social media, with advertisements translated into local languages.
The approved portfolio is projected to support 2,500 employment opportunities, covering sectors such as agriculture, manufacturing, services, construction, green energy, and tourism. The Ministry of Finance noted that the fund is still in its early stages of implementation and that lessons learned are being used to improve its rollout.
Source: Namibia Press Agency