Prime Minister Saara Kuugongelwa-Amadhila has said the youth, especially those who graduated from national technical and vocational education and training (TVET) institutions, should make use of government financing programmes to advance their entrepreneurial skills.

Kuugongelwa-Amadhila shared this message while addressing 250 graduates from the National Youth Service at the Rietfontein Training Centre on Friday.

The graduates underwent various forms of TVET training at the centre over the past four years.

In her statement availed to Nampa the same day, she said that to promote youth entrepreneurship and business opportunities, the government has over the past financial years established funding and mentoring schemes for the youth.

These include N.dollars 209 million availed through the Development Bank of Namibia (DBN) to cater for youth-owned enterprises, with DBN also administering a skills-based lending facility for youth between the ages of 18 and 35.

“The programme targets artisans and young professionals in the different fields. It relaxes the normal loan conditions such as equity contribution and collateral. Further, an SME financing strategy, comprising a credit facility, venture capital fund, credit guarantee scheme and training and mentorship, has been adopted to tap into the potential of SMEs which, traditionally, are the largest job creators and harness the innovation and entrepreneurship of our youth,” said Kuugongelwa-Amadhila.

Government also promotes improved access to markets for youth businesses through preferences under the public procurement system and international trade agreements, all of which will have positive spinoffs for employment creation and economic growth. This demonstrates that government remains committed to ensuring that the youth remains at the centre of government policies and programmes, she added.

“I would like to call upon local institutions to open their doors when graduates knock for opportunities. These graduates offer a wealth of knowledge and skills acquired through the training they went through here, as well as youthful energy that make them great assets to our country that we can simply not afford to leave unutilised,” stated Kuugongelwa-Amadhila.

Source: The Namibian Press Agency