Young Namibians Urged to Seize Entrepreneurial Opportunities to Fight Poverty and Unemployment

Strategic Insights -

The 2025 Business Summit in Windhoek brought together entrepreneurs, corporates, policymakers, and government officials to address the shared crisis of unemployment in Namibia. Martin Nankela, founder of the Business Summit, emphasized the need for young Namibians to start businesses and create jobs to combat poverty and unemployment. The summit featured renowned South African businesswoman Connie Ferguson as the guest of honor and highlighted the significant contribution of small and medium enterprises (SMEs) to the country's economy. Windhoek Municipal Council chairperson Bernardus Araeb stressed the importance of targeted support for entrepreneurs to help them overcome barriers and thrive.

Key Takeaways:

  • Martin Nankela, founder of the Business Summit, called on young Namibians to seize entrepreneurial opportunities and create jobs to fight poverty and unemployment.
  • The 2025 Business Summit in Windhoek focused on building sustainable SMEs for a thriving economy, with a guest of honor Connie Ferguson, a renowned South African businesswoman.
  • Windhoek Municipal Council chairperson Bernardus Araeb highlighted the significant contribution of SMEs to Namibia's economy, providing employment to over 200,000 people and contributing over 12% to the country's GDP.
  • SMEs face persistent barriers such as limited access to finance, inadequate mentorship, and regulatory challenges.
  • The high youth unemployment rate is an urgent signal calling for strategic intervention, with the imperative to create jobs and cultivate job creators.
  • The informal and SME sectors are key drivers of economic development in Namibia, contributing significantly to national employment.
  • Martin Nankela emphasized that entrepreneurship is not just a side hustle, but a key driver of economic development.

Statistics:

  • SMEs contribute over 12% to Namibia's Gross Domestic Product (GDP).
  • SMEs provide employment to over 200,000 people in Namibia.
  • The summit featured exhibitors from across Namibia, showcasing entrepreneurial opportunities and resources.
  • The 2025 Business Summit was established in 2021, with the aim of fighting unemployment through entrepreneurship.

Sources:

  • [NAMPA]
  • [Business Summit]
  • [Windhoek Municipal Council]