Old Mutual Namibia along with Launch Namibia, the Financial Literacy Initiative (FLI) and the United Nations Development Programme (UNDP) Accelerator Lab, has launched the Old Mutual Sustainable, Economic & Empowerment Drive (OM SEED) initiative.

Mufaro Nesongano, Manager: Communications and Old Mutual Foundation, states that, “OM SEED is an initiative we have endorsed for the next 3 years, starting this year. We will be targeting the grassroots market in three randomly selected towns across the 14 regions annually.”

“This year we have specifically selected Keetmanshoop, Oshakati and Windhoek, as these towns are strategically located to impact and create value within the deep-seated communities,” said Nesongano at the launch of the initiative today in Windhoek.

Ashante Manetti, Acting Marketing and Communications Executive highlighted that “At Old Mutual Namibia, we believe in the true power of collaboration. By working alongside the Financial Literacy Initiative, a national platform to enhance financial education and Launch Namibia, who identify as a SMME market player.”

“This shows our commitment of partnering with organisations who are doing exceptional work for the Namibian SMME sector,” said Manetti.

Old Mutual Namibia, along with its partners aim to empower 180 grassroots businesses by offering training on financial sustainability, business running ethics and sustainable business practices from 60 chosen applicants per town.

Of these, 20 will qualify to pitch to a panel of three judges and of the 20, three winners will be selected per town to win their share of N$85 000 to upscale their businesses.

Applications are open today on 5 July and will close on 22 July 2022, with application forms available at the Old Mutual branches in each of the respective towns: Keetmanshoop, Oshakati and Windhoek.

The chosen participants in Windhoek will have the opportunity to partake in OM SEED on 3 and 4 August, while those in Keetmanshoop can look forward to taking part on 10 and 11 August and those in Oshakati will have the opportunity to do so on 17 and 18 August 2022.

“Through the OM SEED we want to empower our entrepreneurs to take charge of their future, to be able to cultivate and grow their business ideas and be able to expand their businesses.

“Through training, mentoring, leadership and guidance, this initiative can empower our local entrepreneurs to thrive and one day empower others to follow suit,” concluded Nesongano.

In the photo: Patty Olivier, MD: Old Mutual Corporate Segment; Yirka Maritz, United Nations Development Programme (UNDP) Accelerator Lab: Head of Experimentation; Mufaro Nesongano, Old Mutual Manager: Communications and Foundation; Iyaloo Ailonga, Acting Secretariat Manager: Financial Literacy Initiative; Ashante Manetti, Old Mutual Acting Marketing and Communications Executive, Ndangi Katoma, MD: Old Mutual Retail Mass Market and Tom Shilongo, Founder and CEO: Launch Namibia.