The Ministry of Finance has announced the approval of 42 youth-led projects worth N$14.78 million under the National Youth Development Fund (NYDF), which was officially launched in September this year.
In a press statement released yesterday, the ministry revealed that the initiative received an overwhelming response, with over 11,000 applications submitted from across the country. Evaluations for the remaining applications are still ongoing.
According to the statement, beginning 1 December, young people aged between 18 and 45 will be able to submit their applications directly through Development Bank of Namibia (DBN), AgriBank, or the Environmental Investment Fund (EIF) offices nationwide.
The ministry emphasized that it will monitor the use of the funds closely to ensure they are used effectively and deliver tangible benefits to young entrepreneurs.
The NYDF aims to support youth-owned enterprises and innovative business ideas, helping to boost employment creation and stimulate sustainable economic growth.
“The government remains committed to empowering young Namibians by providing the financial backing needed to turn their business ideas into viable enterprises,” the statement concluded.
