Investment Promotion and Development Board launches first Know2Grow NextGen Entrepreneurs showcase
The Namibia Investment Promotion and Development Board (NIPDB) showcased the Know2Grow NextGen Entrepreneurs at an event held in Tsumeb on Wednesday.
Mayor of Tsumeb, Matheus Hangula at the event said that as a Tsumeb Municipal Council, the residents of Tsumeb all inclusive of the entire Oshikoto region, are indeed honored to have been selected, as the strategic hub to host this first Annual Know2Grow NextGen Entrepreneurs showcase by NIPDB.
“What we are witnessing today, is a great pride of scalable entrepreneurs, who came from all corners of Namibia to get market access and capacity building from the 16 November and ending on 19 November,” he added. He added that as they are celebrating this year’s theme ‘Scaling through Innovation, Value Addition, and Co-operatives,’ he trusts that the showcase will avail countless opportunities for key private and government stakeholders to engage with the young entrepreneurs on matters relevant to boosting their chances of business success. “I understand there is a lined up of 30 business support organizations to engage with the 140 selected scalable Micro, Small, and Medium Enterprises, of which 60 are here in person and 80 joining us on a virtual platform,” he said.
Hangula informed that the showcase will have a series of panel discussions with local and international business support organising, business-to-business engagements, and networking platforms among fellow entrepreneurs. “It is therefore my sincere hope that the next 3 days of Grow2Know NextGen Entrepreneurs Showcase will meet its overall objective and that is to develop and support more young people in business by exposing them to potential support and linkages,” he said.
He added that he aspires to see the best forthcoming second Know2Grow NextGen Entrepreneurs Show coming to Tsumeb again in 2023 as it grows. “I wish you all success and would like to assure you that the Tsumeb Municipal Council will continue to provide a conducive business environment and as a matter of importance,” he added.
Regional Governor of the Oshikoto Region, Honorary Penda Ya Ndakolo said at the event that the NIPDB understands that Micro, Small and Medium Enterprise are key contributors to employment creation, income generation, and poverty eradication for the people of Namibia, in both rural and urban areas. “MSMEs are the backbone of the Namibia economy and we need to ensure that their businesses are scaled to continue contributing to the economy of our great country,” said Ya Ndakolo.
He highlighted that approximately 33 700 MSMEs, of which around 15 000 are formally registered, provide some form of employment and income to 160 000 Namibia citizens and this represents about one-third of the nation’s workforce. “Overall, the contribution of MSMEs’ constitutes approximately 12% of Namibia’s GDP, therefore we must pave the way for youth-led initiatives and support the acceleration of their business venture, and young people should have an environment in which their brilliant and innovative business models are recognized and encouraged to sustain the next generation,” he added.
“Dear MSMEs, it is indeed plausible that you took the risk to bring your business ideas into realisation, continue to be an inspiration to your fellow youth and continue growing your businesses to benefit more Namibians,” he concluded.
