Nandi-Ndaitwah tells enterprenuers to create jobs

Vice president Netumbo Nandi-Ndaitwah says young enterprenuers must thrive to create jobs for fellow Africans.

Nandi-Ndaitwah’s comments were delivered on her behalf by Mateus Kaholongo, the deputy executive director in the office of the vice president, during the third Annual Micro, Small and Medium Enterprises (MSME) forum on Monday.

Nandi-Ndaitwah said entrepreneurs should innovate, seek growth and expansion and create sustainable and scalable businesses that will contribute to Africa’s economic transformation.

“Create jobs for fellow young people because not all of us are called to be entrepreneurs,” she added.

She noted that the informal sector should be formalised, but not overregulated.

“Necessary frameworks to be put in place to formalise the sector, not to overregulate it, but to collect accurate and timely data that can be used by policy makers.

“The latest estimates indicate that 15 000 MSMEs are registered and contribute approximately 12% of Namibia’s gross domestic product,” said Nandi-Ndaitwah.

National statistics indicate that the informal sector, which is primarily composed of small businesses, employs 58% of Namibia’s labour force. This represents a total of about 420 000 people.

“Despite this tremendous contribution to our GDP and employment, this sector remains underserved,” said Nandi-Ndaitwah, noting that Namibia is committed to contributing to Africa’s 2063 Agenda.

“Namibia is committed to playing a significant role in the development of Africa’s MSME sector and we are eager to share our experiences, learn from others and collaborate on initiatives that will benefit our entire continent.”

Speaking during the event, Albert Muchanga, the commissioner for Economic Development, Tourism, Trade, Industry and Minerals at the African Union (AU), said hosting the forum in Namibia brings the AU closer to the African people.

During the forum, the first edition of the Africa Enterprise Network fellowship programme was also launched.

“In this inaugural edition, 50 MSMEs from all the five regions of Africa; from 30 countries, including one from Namibia, have been selected for a 12-month capacity building programme involving training and mentorship,” said Muchanga.

The union will collaborate with the International Trade Centre, World Intellectual Property Organisation and the African Export Import Bank in this training and mentorship programme, Muchanga added.

“The 50 businesses selected are already making positive impacts in the sectors of sustainable agriculture, manufacturing, digital transformation, mineral beneficiation and creative industries.”