The Landless People’s Movement (LPM) has pledged to allocate N$500 million to the youth economy so that it becomes profitable.
This was announced by LPM leader Bernadus Swartbooi during a presidential debate hosted by Eagle FM on Friday.
“We will immediately allocate funds to develop the sport economy, so that we can fund leagues from various sport codes to become profitable.
Swartbooi said sport is undermined and underpaid.
Swartbooi further said he will ensure that young people do not drop out of school.
“We’ll stop the dropout process so that everyone who starts in Grade 1 can reach Grade 12, no matter how long it takes. This ensures they are equipped for long-term success.”
He added that the mining sector will compel 40% supply to the small and medium enterprises (SME) of young people.
“Young people need to be within the value chain of the mining sector,” he said.
“The LPM will make sure that 45% of funds of the Government Institutions Pension Fund for unlisted investments is specifically allocated to enterprises run by young people,” he said.
Swartbooi said the LPM aims to direct about N$12 billion towards SMEs in a sustainable way.
The funding should support young entrepreneurs, particularly in areas like building flats and houses, rather than going to established individuals with elite connections who typically receive such investments from portfolio managers.
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