Five micro-business owners benefit from materials and equipment

Five micro-business owners benefit from materials and equipment
Five micro-business owners benefit from materials and equipment

Africa-Press – Namibia. FIVE youths who have ventured into various businesses recently received income-generating materials to boost their enterprises.

During the official handover of the donation, Oshikoto Governor Penda Ya Ndakolo said that the support provided to micro-businesses includes fencing materials, tailoring machines, salon equipment, and welding equipment, depending on the operational needs of each business.

The recipients are Kapex Trading cc from Eengodi Constituency, Toini Hair Salon from Onayena Constituency, Grace Hair Salon from Omuthiya Constituency, George Project from Tsumeb Constituency, and Uukumwe Project from Omuntele Constituency.

Ya Ndakolo mentioned that during the last financial year, his office allocated N$100,000 to support startups and micro-businesses.

“The purpose of this allocation is to assist micro-businesses with the potential to grow but lack necessary critical materials for their operations,” he said.

Furthermore, Ya Ndakolo added that these micro-enterprises often struggle to access loans from commercial banks due to a lack of collateral.

He emphasized that without assistance, the dream of stimulating the regional economy, creating employment, eradicating poverty, and fostering business growth within the region would not be realized. Micro and small businesses, he stressed, are the backbone of the economy.

Ya Ndakolo informed the beneficiaries that their projects would be monitored by technical officials for the first three years to assess their progress.

“If you do not perform, the materials and equipment will be reclaimed and provided to other businesses willing to work hard and expand their operations,” he added.

He urged the beneficiaries to make efficient use of the resources and expand their businesses.

Ya Ndakolo also called on the private sector to collaborate with them to make this sector the main driver of economic growth, poverty reduction, and job creation, contributing to economic transformation. Through collaborative efforts, they can foster economic growth through small business development.

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