Nictus to fund furniture manfacturers

FURNITURE retailer, Nictus Furnishers will be providing capital to local manufacturers to boost their production, as part of its empowerment initiative, the company announced this week.

In addition to funding, the retailer will also stock locally manufactured products for sale to its wide market.

The company explained in a press release yesterday that it had embarked on an empowerment programme that supports small local entrepreneurs with capital to fund their manufacturing operations in addition to having their products sold at Nictus Furnishers’ Windhoek branch.

As part of the programme, local furniture manufactrers will be prioritised.

The programme is aimed at supporting local manufacturers, as the country faces a funding gap at the start-up level, and enable them to compete with foreign brands.

Some entrepreneurs have, however, blamed the limited access of retailer’s space for their products, making it difficult for customers to find and purchase their products.

Nictus’ chief executive officer, Francois Wahl, said the programme is a collection of efforts that can solve many of the hurdles that Namibian entrepreneurs face.

“Entrepreneurs do not only get their products housed by a recognised brand like Nictus. They are also able to get access to capital that is specific to what their business needs to compete with big names,” he added.

One of the local entrepreneurs to take up the initiative is Petrina Ashipala, the owner of Meme wOmabean Bags, a company that creates a type of furniture known as bean bags.

Ashipala described the initiative as what every entrepreneur needs, especially during this pandemic that has changed how a lot of people do business.

She said the partnership will introduce her products to a wider customer base and in turn increase product output, sales volumes and overall business growth.

Access to market is what every business need, she said.

More private initiatives are coming on board to facilitate entrepreneurship in the country and add value.

Manufacturers who wish to sell their products in Nictus Windhoek branch or want funds for their manufacturing process can email: pra@nictus.com.na and apply.

The approval process can take about three months, after all assessments have been done on the products.