The Development Bank of Namibia (DBN) has launched a national promotional campaign aimed at enhancing the level of public understanding on financial solutions tailor-made for young entrepreneurs and small business owners in the country.
This initiative forms part of the Bank’s broader mandate to develop the national economy by financing sustainable enterprises, particularly in the Small and Medium Enterprises (SMEs) sector and help reduce youth unemployment.
DBN currently offers skills-based finance facilities to qualifying young artisans and young professionals, aged 35 and under. Skills-Based Finance forms part of the Bank’s broader SME financing portfolio; however, it is designed specifically for youth and features significantly reduced requirements, making it more accessible to aspiring entrepreneurs, artisans, and skilled workers seeking capital to start or grow their businesses.
Over the past financial year, DBN approved N$74.6 million in total under SME funding, of which only N$170,000 was allocated to skills-based finance. As of the first quarter of the current financial year (2025/26), DBN has recorded two approvals under its youth-focused SME facilities, amounting to N$1.25 million.
Notably, one of these approvals was made in the Zambezi Region, which is the first ever approval in that region. While this is a step forward, the Bank remains concerned about the overall low uptake.
DBN’s Chief of Marketing and Corporate Affairs, Mr Jerome Mutumba, expressed concern over the underutilisation of the products.
“It is worrisome that, despite Namibia’s high youth unemployment and our efforts to develop solutions tailored for young people, the uptake remains low. We expect to change the undesirable status quo,” he said.
This campaign will be rolled out across various media platforms, including community outreach, regional roadshows, social media drives, and stakeholder engagements nationwide. The objective is to ensure that Namibian youths with viable business ideas or marketable skills can access finance for their businesses.
“We aim to make access to youth finance more inclusive,” Mutumba added. “That means meeting the youth where they are, breaking down barriers to entry, and working closely with stakeholders to amplify our reach,” Mutumba said.
“The Development Bank of Namibia remains committed to promoting inclusive economic participation and supporting the country’s broader development goals.
“Youth and aspiring entrepreneurs are encouraged to visit the DBN website, regional offices, or attend upcoming outreach sessions in their area to learn more about these funding opportunities.”
In the photo: Mr Jerome Mutumba, DBN’s Chief of Marketing and Corporate Affairs.
