Officials have dropped the requirement for business registration papers when young entrepreneurs seek money from the National Youth Development Fund, according to a government announcement on Friday. Applicants who receive approval will complete their registration with the Business and Intellectual Property Authority after their projects get the green light.
Finance ministry executive director Michael Humavindu said the change represents part of wider reforms that include raising the maximum age from 35 to 45 years. Starting December 1, entrepreneurs can submit requests directly to three institutions: the Development Bank of Namibia, the Agricultural Bank of Namibia, and the Environmental Investment Fund. During a trial period from August 1 through September 4, officials received 11,475 requests and approved 42 ventures worth $14.78 million.
Authorities set aside $500 million for the program, with $257 million designated for the 2025-26 budget year to back youth business ventures, startups, apprenticeships, and graduate internships. Officials continue reviewing remaining applications and plan to announce decisions each month.
Finance ministry executive director Michael Humavindu said the change represents part of wider reforms that include raising the maximum age from 35 to 45 years. Starting December 1, entrepreneurs can submit requests directly to three institutions: the Development Bank of Namibia, the Agricultural Bank of Namibia, and the Environmental Investment Fund. During a trial period from August 1 through September 4, officials received 11,475 requests and approved 42 ventures worth $14.78 million.
Authorities set aside $500 million for the program, with $257 million designated for the 2025-26 budget year to back youth business ventures, startups, apprenticeships, and graduate internships. Officials continue reviewing remaining applications and plan to announce decisions each month.
