The Minister of Sport, Youth and National Services, Erastus Uutoni says the launch of a rural youth enterprises’ credit scheme on Wednesday, is line with President Hage Geingob’s Harambee Prosperity Plan (HHP) strategy.
Through the scheme, the ministry will train young entrepreneurs from each of the 121 Namibian constituencies on business ideas, startups and bankable business plans as well as access to much-needed funding.
President Geingob launched the HPP in 2016 as his blueprint to deliver on jobs, eradicate poverty and bring about economic emancipation of Namibians, among many other audacious promises.
On Wednesday, Uutoni stressed that the HPP’s sub-pillar on youth enterprise development outlines four key desired outcomes, which his ministry is tasked with delivering on.
Among these, the minister added, was to establish youth-owned enterprises in all the 121 constituencies by the year 2020.
“The single-minded objective in this regard is to stimulate economic activities, especially for young people in rural areas,” explained Uutoni.
“The Ministry of Sport, Youth and National Services is well on target towards the stimulation of the set goal to establish the 121 rural youth enterprises.”
He added: “… Youth entrepreneurship can be part of the solution to transform unemployed young people into active members of the economy, self-sustaining and contributing significantly to the development of society.”
According to Uutoni, while, young people often turn to self-employment because they cannot find jobs, entrepreneurship can provide them with valuable life skills.
Furthermore, he is of the opinion that increased access to finance and capital for the youth can improve economic conditions in the country.
He urged those who will benefit from the scheme to use the money for what it is intended for and to pay back their dues as expected.