The Ministry of Industrialisation and Trade handed over equipment to the value of N$647 680 to businesses in the Zambezi region on Friday.
The equipment was allocated to 24 small and medium enterprises (SMEs).
Speaking during the handover ceremony, minister of trade Lucia Iipumbu said business owners should build capacity to take advantage of the Africa Continental Free Trade Area.
“You must strengthen your capacities so that you remain competitive. You must also use these support mechanisms to scale and diversify our productive capabilities,” said Iipumbu.
The equipment was handed over under the flagship support of the Equipment Aid Scheme and the Industrial Upgrading and Modernisation Programme grants.
Out of the approved 15 beneficiaries, only one is from the Zambezi region, with a total allocated amount of N$161 412.50.
Iipumbu said the applications for the 2024/2025 financial year are now open, and SME’s can apply for the grants.
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