By Namibia Press Agency

Copyright namibian

Prime minister Elijah Ngurare will officially launch the National Youth Development Fund (NYDF) next Monday.

Minister of finance Ericah Shafudah during a Cabinet committee briefing session on Monday said the launch will include awards to selected projects that have already been assessed.

“. . . just to give assurance to the public that the government, through these three development finance institutions (the Development Bank of Namibia, the Environmental Investment Fund and the Agribank of Namibia) has started with the implementation or the operationalisation of the National Youth Development Fund,” she said.

Shafudah clarified that the initiative is not a once-off exercise, but a five-year programme running from 2025/26 through to 2030.

“People thought this is the end of the game, but it is a programme set up by the government for a period of five years,” the minister said.

She encouraged potential applicants to start preparing themselves to benefit from the fund.

“We want to see the enterprises of the youth graduating from start-ups to growth and eventually scaling up, but being run in a sustainable manner,” she said, adding that mentorship will also be provided to assist young entrepreneurs in drafting their own business plans.

The NYDF is a government initiative designed to address youth unemployment and promote entrepreneurship. The fund will provide low-interest loans and other forms of support to young entrepreneurs and youth-led businesses.

Regarding social grants, Shafudah said her ministry is collaborating with the Bank of Namibia as NamPost assumes responsibility for the payment of social grants from October as part of broader reforms.

“We are working with the Bank of Namibia. They are introducing a platform called the Instant Payment Solution, or Instant Payment Platform,” she said.