Windhoek: Prime Minister Elijah Ngurare will officially launch the National Youth Development Fund next Monday.

According to Namibia Press Agency, Minister of Finance Erica Shafudah announced during a Cabinet committee briefing session that the launch will include awards to selected projects that have already been assessed. Shafudah mentioned that the awards are meant to assure the public that the government, through the Development Bank of Namibia, Environmental Investment Fund, and Agribank of Namibia, has begun implementing the National Youth Fund.

Shafudah clarified that this initiative is not a one-time event but a five-year program running from 2025/26 through to 2030. She emphasized that the program is intended to support youth enterprises, helping them transition from start-ups to growth and eventually scaling up, all while being run sustainably. Mentorship will also be provided to assist young entrepreneurs in drafting their business plans.

The National Youth Development Fund aims to address youth unemployment and promote entrepreneurship by providing low-interest loans and other support to young entrepreneurs and youth-led businesses.

Regarding social grants, Shafudah stated that her ministry is working with the Bank of Namibia as NamPost takes over the responsibility for the payment of social grants from October. This is part of broader reforms, including the introduction of the Instant Payment Solution platform.