MSME owners pitch before investment board cum World Bank panel
The three best pitches among a group of eight micro, small and medium enterprises, won cash prizes and access to training in the basics of business management. The event was the Chelete Cage pitching session conducted by the Namibian Investment Promotion and Development Board, and the World Bank Group.
Abner Tomas took the first prize of N$30,000 for elegantly promoting his business, Ndaka Mushrooms & Processing, a small company that specialises in sustainable mushroom farming and marketing. Abner also offers training and advice to other small entrepreneurs who want to farm mushrooms.
Regarding his participation in the Chelete Cage pitching competition, Abner said it was an eye-opening experience, adding that he valued the networking and the coaching.
Asked how he intends to use his prize money, he said the first N$10,000 he invested in buying material to add another nine square metres to his mushroom fruiting room to increase production. With the remaining N$20,000 he wants to obtain certification from the Namibia Standards Institution and from the Namibia Agronomic Board.
The second strongest pitch was deliverd by Mareka Masule of Ilotu Investment, fetching her N$20,000 for her small concern that produces organic and natural cosmetics, and offers fitness and health services for holistic wellness.
The third prize of N$10,000 went to Loide Dawid of K12 Edtech Inc that digitises and automates educational technology processes, from Kindergarten to senior secondary level.
The Chelete Cage sessions are part of the investment board’s initiatives to bridge the access to finance gap and help MSMEs grow. The next installment of Chelete Cage will take place later this year.
The Executive Director of MSME Development, Innovation, and Acceleration at the Namibian Investment Promotion and Development Board, Dino Ballotti and Lead Private Sector Specialist at the World Bank, Ganesh Rasagam with the winners and judges of the Chelete Cage pitching competition.