{"id":42928,"date":"2023-04-13T17:38:48","date_gmt":"2023-04-13T17:38:48","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/trade-ministry-remains-committed-to-sme-development"},"modified":"2023-04-13T18:37:12","modified_gmt":"2023-04-13T18:37:12","slug":"trade-ministry-remains-committed-to-sme-development","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/trade-ministry-remains-committed-to-sme-development","title":{"rendered":"Trade ministry remains committed to SME development"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>The trade and industrialisation ministry will continue rolling out support programmes and facilities, aimed at helping small and medium enterprises (SMEs) to establish and expand their businesses.<\/p>\n

Minister Lucia Iipumbu confirmed the ministry will remain focussed on assisting the growth and development of small and medium-sized enterprises (SMEs) in the country.<\/p>\n

She made these remarks during the recent launch and stakeholder engagement of the Ongwediva Annual Trade Fair (OATF) for 2023.<\/p>\n

This year\u2019s OATF is set to take place on 25 August until 2 September 2023 under<\/p>\n

the theme, \u2018Embracing a sustainable economy, linking smart market\u2019.<\/p>\n

In her speech, Iipumbu said through the equipment aid scheme programme, the ministry has received limited<\/p>\n

funding, aimed at assisting SMEs to<\/p>\n

acquire manufacturing equipment<\/p>\n

needed to increase their production potential and technical capacity.<\/p>\n

\u201cAny industrialised country is a result of ensuring a solid manufacturing base was in place through a competitive SME sector. There are other product development initiatives, such as the IUMP (Industrial Upgrading and Modernisation Programme) and SDG (Sustainable Development Goals) facilities that will further assist SMEs in product development, labelling, packaging and marketing of their products, while the ministry equally assists SMEs with developing business plans and training on basic entrepreneurship, financial literacy and business modelling under the Empretec programme,\u201d she explained.<\/p>\n

Iipumbu further implored local businesses to also participate in trade missions abroad to provide exposure to potential business linkages.<\/p>\n

\u201cIt is, however, up to the individual entrepreneurs to tap into these<\/p>\n

programmes to see how best they can utilise the facilities to their benefit.<\/p>\n

The ministry\u2019s annual budget<\/p>\n

allocation was increased by 22% or N$31 million to almost N$298 million when finance minister Iipumbu Shiimi tabled the national budget in February this year under the theme, \u2018Economic Revival and Caring for the Poor\u2019.<\/p>\n

The ministry\u2019s programmes and their respective budget include the Trade Promotion programme (N$138 784 627), the Industrial Development programme (N$61 214 461), investment promotion (N$4 151 049), the Special Industrialisation programme (N$26 234 769), as well as policy supervision and support services (N$67 171 094).<\/p>\n

This ministry\u2019s priority on assisting<\/p>\n

SMEs reflects the government\u2019s commitment to promoting economic development and job creation in the country.<\/p>\n

It has joined other ministries, such as the ministry of labour, which has also pronounced itself on prioritising employment creation in its development process of the third National Employment Policy.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. The trade and industrialisation ministry will continue rolling out support programmes and facilities, aimed at helping small and medium enterprises (SMEs) to establish and expand their businesses. Minister Lucia Iipumbu confirmed the ministry will remain focussed on assisting the growth and development of small and medium-sized enterprises (SMEs) in the country. She […]<\/p>\n","protected":false},"author":84,"featured_media":42927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-42928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nTrade ministry remains committed to SME development - Namibia<\/title>\n<meta name=\"description\" content=\"The trade and industrialisation ministry will continue rolling out support programmes and facilities, aimed at helping s ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/trade-ministry-remains-committed-to-sme-development\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trade ministry remains committed to SME development\" \/>\n<meta property=\"og:description\" content=\"The trade and industrialisation ministry will continue rolling out support programmes and facilities, aimed at helping s ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/trade-ministry-remains-committed-to-sme-development\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-13T17:38:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-13T18:37:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/04\/postQueueImg_1681391336.26.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"489\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trade-ministry-remains-committed-to-sme-development#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trade-ministry-remains-committed-to-sme-development\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Trade ministry remains committed to SME development\",\"datePublished\":\"2023-04-13T17:38:48+00:00\",\"dateModified\":\"2023-04-13T18:37:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trade-ministry-remains-committed-to-sme-development\"},\"wordCount\":399,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trade-ministry-remains-committed-to-sme-development#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/04\/postQueueImg_1681391336.26.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/trade-ministry-remains-committed-to-sme-development#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trade-ministry-remains-committed-to-sme-development\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trade-ministry-remains-committed-to-sme-development\",\"name\":\"Trade ministry remains committed to SME development - 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