Old Mutual Namibia (OMN) on Tuesday launched the Old Mutual Sustainable Economic and Empowerment Drive (OM SEED) initiative aimed at empowering 180 grassroots businesses across the country.
The three-year initiative was launched in collaboration with Launch Namibia, the Financial Literacy Initiative (FLI), and the United Nations Development Programme (UNDP) Accelerator Lab, and is set to begin this year in three randomly selected towns.
This year, Keetmanshoop, Oshakati, and Windhoek were specifically chosen because they are strategically located to impact and create value within communities.
According to OMN Acting Marketing and Communications Executive, Ashante Manetti, training on financial sustainability, the ethics of running a business, and sustainable business practices will be offered to 60 selected applicants per town.
Twenty of these will be chosen to pitch to a panel of three judges, and three winners will be chosen per town to receive N.dollars 85 000 to help them grow their businesses.
“At OMN, we believe in the true power of collaboration. By working alongside the FLI, a national platform to enhance financial education, and Launch Namibia, which identifies as an SMME market player, this shows our commitment to partnering with organisations who are doing exceptional work for the Namibian SMME sector,” she said.
Manetti stated that selected participants in Windhoek will be able to participate in OM SEED on 03 and 04 August, while those in Keetmanshoop will be able to do so on 10 and 11 August, and those in Oshakati are scheduled for 17 and 18 August this year.
The initiative also aims to empower entrepreneurs to take control of their future, cultivate and grow their business ideas, and expand their operations and that this initiative has the potential to empower local Namibian entrepreneurs to thrive and, one day, others to follow suit through training, mentoring, leadership, and guidance.
Application forms are available at the OMN branches in Keetmanshoop, Oshakati, and Windhoek. Applications will open on 05 July and close on 22 July 2022.
Source: The Namibian Press Agency
