Young entrepreneurs and innovators in Namibia are set to benefit from a N$257 million boost to the Youth Development Fund, which will provide affordable loans at interest rates between 2% and 4%.
Youth deputy minister Dino Balloti announced that the funding will target youth-owned businesses, start-ups, cooperatives, and innovative ventures, with particular emphasis on agriculture, agro-processing, green and eco-friendly projects, manufacturing, and value addition.
Additional priority sectors include creative industries, ICT and technology innovation, and the beauty industry. In a move aimed at widening access, Balloti confirmed that applicants will not be required to provide collateral. He further revealed that the deadline for applications has been extended to 28 August 2025, giving more young people an opportunity to apply.
