The Namibian government has officially launched the National Youth Development Fund (NYDF), announcing 42 youth-led projects, collectively valued at N$14.78 million, as the initiative’s first beneficiaries.
Prime Minister Elijah Ngurare, speaking at the launch, said the N$500 million fund, with N$257 million allocated for the 2025/26 financial year, aims to provide affordable loans and grants to young entrepreneurs across all 14 regions.
“Today, we announce 42 successful projects three from each region. Out of 11,475 applications received during the pilot phase,” Ngurare said.
Start-ups will access funding between N$60,000 and N$200,000 at 2% interest, while enterprises seeking growth or expansion may qualify for up to N$1 million at slightly higher rates. The fund requires no collateral and offers a grace period of up to 12 months before repayment begins.
Funded projects span sectors including farming, renewable energy, auto repairs, welding, gemstones, leather processing, fisheries, recycling, media, butchery, brick manufacturing, film production, and logistics. Youth cooperatives in Kunene and Oshana, along with poultry, agriculture, and creative industry projects in Khomas, also benefited.
Ngurare stressed that beneficiaries will receive entrepreneurship training, and unsuccessful applicants will be supported through capacity-building programs. “The fund must remain clear and youth-friendly. If needed, we will adjust the criteria to better serve Namibian youth,” he said.
The Development Bank of Namibia, Agribank, and the Environmental Investment Fund will manage the NYDF, with NamPost expected to join. Contributions from NamibRe, DBN, NIPAM, and international partners such as the African Development Bank and the United Nations will support the fund’s sustainability.
