Day: March 15, 2024

WINDHOEK: Namibia is rapidly becoming the leading light of the Empretec Programme, a capacity building initiative specially designed to encourage entrepreneurs to start and grow their businesses.

The Empretec Namibia Programme was first launched in 2019 as a partnership between the Ministry of Industrialisation and Trade and the United Nations Development Programme (UNDP).

The programme aims to promote entrepreneurship as an essential component of economic growth and development in Namibia. Empretec has been proving its positive impact for over 30 years since it was first launched in Argentina by the United Nations Conference on Trade and Development (UNCTAD).

Since it was first piloted in Namibia in 2019, close to 2 000 entrepreneurs have graduated from the programme. Last year, 1 400 entrepreneurs completed the training, while 90 were the first to graduate in 2019.

Henry Kisting, one of Empretec Namibia’s alumni, said the programme gave him special skills that allowed him to run his upholstery business
in Windhoek.

‘I can say the programme really helped me a lot in the sense that it opened my eyes to things like how to plan, aggressive marketing, and how to look for business opportunities. To be honest, I was lacking in many areas of running a business,’ Kisting said, while encouraging other aspiring entrepreneurs to take part in the programme.

Elina Emvula, who operates a decoration business at Grootfontein, also had good things to say about the programme. She said her participation in the programme in 2019 gave her a boost to run her small business, which manufactures a range of wood furniture, kitchenware, and wall decor.

‘It really boosted my skills to run my business. When I started, I did not really know what I was doing. Even up to now, I still have my notes from the workshop, and at times when I get stuck, I still go back to my notes to boost myself,’ said Emvula, who also recently opened a restaurant in Grootfontein.

The 2024 edition of the Empretec programme was launched in Windhoek recently,
and the launch coincided with the first entrepreneurial training that began on 04 March and was attended by 30 entrepreneurs.

During the six-day workshop, participants were exposed to behavioural entrepreneurial competencies that are associated with successful entrepreneurs worldwide.

The CEO of Empretec Ghana Foundation, Dunwell Eku, who also conducted the workshop, noted that the programmes are unique from other entrepreneurial training programmes.

Eku emphasised that the programme takes a behavioural approach to entrepreneurship, and that it is more practical, interactive, and experience-based.

‘Over the years, I am aware that governments have invested in a number of funded training programmes that focus on learning some financial and management skills, and I am aware that in some countries, government funding is as much as 90 per cent of start-up capital, and it did not work,’ Eku said.

‘So this workshop is about getting entrepreneurs to understand that there is something within them, and if they bri
ng it out and practice it, it can become a part of them. They can apply it in all situations that confront them.’

Romanus Haironga, one of the 30 participants who finished training last week, expressed gratitude to the Empretec Programme for helping him gain new insights into managing a business. The aspiring entrepreneur from Kavango West said he is venturing into small and medium businesses training and coaching in his region.

He said the workshop was about changing the mindset of entrepreneurs, which he said is the biggest challenge for business owners.

‘The biggest challenge is our mindset, and we need to change that. For example, I learned that you can start a business without money, but our mindset is that you need a lot of money to start a business, that the government is not giving us capital, and so forth. Therefore, the approach of the Empretec programme is changing that mindset, that entrepreneurs can even start with little money,’ Muronga said.

Industrialisation and Trade Minister, Lucia Iipum
bu, who launched this year’s programme, said that Empretec Namibia seeks to train local micro, small, and medium-sized enterprises (MSMEs) and larger enterprises into appropriate entrepreneurial behaviour, to ensure that they can create sustainable businesses.

In partnership with Empretec Ghana, the minister said they aim to train up to 180 trainees this year.

‘We also aim to work with both UNDP and UNCTAD to ensure that Empretec Namibia is certified as a global centre by the end of this year. In addition, we aim to create a pool of trainers who will become the resource for Namibian trainers to carry out these trainings themselves. Further, we are working with the Ministry of Higher Education and its agencies to initiate work to accredit our training,’ Iipumbu said.

Speaking at the launch, UNDP Resident Representative, Alka Bhatia, said Empretec Namibia intends to build resilience and boost confidence in MSMEs.

With rising unemployment in Namibia, Bhatia said the programme aims to empower small business o
wners with the skills necessary to become productive in the national economy.

She also commended the Ministry of Industrialisation and Trade for its idea to set up a blended financing programme that will provide grants and loans to MSME at a nominal interest rate.

In support of SMEs, the Ministry of Finance has increased the ministry’s budget by 31.7 per cent to N.dollars 365.5 million in 2024/25 financial year and a total of N.dollars 1.2 billion over the medium-term expenditure framework.

Finance Minister Iipumbu Shiimi has said that funding has been allocated to the equipment aid scheme, Start-Up Namibia and Empretec Namibia to facilitate domestic trade activities and build domestic entrepreneurship capacity.

Source: Namibia Press Agency

By Eratus Ndueh

The Central African Stock Exchange (BVMAC) plans on splitting its shares to make financial market participation more accessible to low-income earners in the Central African sub-region. The pronouncement was made by the director general of BVMAC, Louis Banga Ntolo, during the 10th edition of ‘Ring the Bell for Gender Equality,’ an event led by UN Women to promote gender equality and women’s empowerment.

According to the Director General, this reform is mentioned in their plan of action for the year 2022-2026 and it aimed at facilitating the financial inclusion of low-income earners especially for marginalized groups such as women, youths, and operators in the informal sector without them necessary needing a bank account before they trade in the stock exchange market.

To ensure the success of this project, BVMAC plans on working with fintech companies operating in the field of mobile money, a payment method approved by the Bank of Central African States (BEAC), which identifies individuals through a microchip.

‘We will conduct splits similar to those in other stock exchanges, allowing shares listed on the BVMAC to be priced at CFA 500 without altering the rights associated with a security. Thereby facilitating the purchase of assets with an electronic wallet,’ the director general explained.

This ongoing reform at BVMAC will also have a positive impact on Cameroonians as it will increase the rate at which they invest in the stock exchange market.

‘This measure is going to ensure that more people get interested in investing in the stock market. Instead of sending the money to a ‘njangi’ ( common meeting group) each month, you can use the money to buy shares in the Central African Stock Exchange market, and then earn huge at the end of the year. This means that more people are going to be using the formal financial system to the benefit of local businesses who will be able to raise funds to expand their operations,’ Henri Kouam an economist expounded.

According to data from the Bank of Central African States (BEAC), the financial inclusion rate was 32% in the CEMAC zone in 2021. To increase this rate to 60% by 2027, the central bank is focusing on innovation and expanding digital financial services in the sub-region.

Source: Cameroon News Agency

OPUWO: World Wetlands Day was commemorated at Opuwo on Thursday under the theme ‘Wetlands and human wellbeing’, emphasising the critical role of wetlands in human prosperity and a healthy planet.

World Wetlands Day is an annual event held to raise awareness about the importance of wetlands and promote their conservation and sustainable use. It marks the date of the adoption of the Ramsar Convention, an international treaty aimed at conserving and sustainably managing wetlands around the world.

During the event, Minister of Agriculture, Water, and Land Reform Calle Schlettwein spoke of the significance of protecting Namibia’s wetlands, highlighting their diverse ecological functions and their significance as habitats for numerous species.

Schlettwein further emphasised the importance of wetlands in human health, food security, agriculture, and conservation efforts.

‘Maintaining healthy freshwater wetlands means securing water supply. Our rural communities depend on wetlands for food and building materials
such as reeds and timber to construct their houses,’ he added.

The minister also referenced World Water Day, which is celebrated annually to promote the value of freshwater and the sustainable management of freshwater resources.

‘Demand for water in the world and Namibia has been increasing and will continue to do so over the coming decades due to population growth, socio-economic development, and increased food production,’ he noted.

Minister of Environment, Forestry, and Tourism Phamba Shifeta stated at the same event that the world is losing wetlands three times faster than it is losing forests, with more than 80 per cent of wetlands having disappeared since the 1700s.

‘The trend is accelerating even further since the Ramsar Convention to protected wetlands was signed, and since then at least 35 per cent of the wetlands have been lost,’ he said.

Shifeta said human activities and climate change are the primary causes of wetlands degradation and loss, which in turn have a detrimental impact on human liv
es and welfare.

He urged traditional authorities and regional and local government officials to help promote the culture of wetland conservation, stating that concerted efforts at the local level will ensure that Namibia’s wetlands are protected and continue to provide much-needed ecosystem services to both society and the environment.

Wetlands are habitats that hold water, either continuously or seasonally, and the Kunene Region has over 15 wetlands.

Source: Namibia Press Agency