Chamwe Kaira
Namibia’s informal sector contributes 26.5% to gross domestic product and employs nearly 58% of the country’s workforce.
These figures were highlighted at the Informal Sector Track of the Blue Growth Series held in Windhoek. The programme was convened by Standard Bank Namibia in partnership with the Namibia Investment and Finance Academy and other stakeholders.
More than 100 informal entrepreneurs, policymakers and development partners attended the event. The focus was on helping informal businesses move into structured and sustainable enterprises.
Arinze Okafor, CEO and founder of NIFA, said informal enterprise plays a key role in inclusive growth.
“Funding alone does not grow businesses. Revenue drives growth, structure sustains it, and partnerships enable scale. Our collective task is to build the bridge from informal activity to sustainable enterprise,” Okafor said.
He said business growth depends on revenue generation, proper structure and strong partnerships, not only access to finance.
The Blue Growth Series focuses on enterprise readiness. It promotes skills development, financial discipline and better access to markets rather than immediate funding.
Sackarias Uunona delivered the keynote address on behalf of Khomas Governor Sam Nujoma. He said informal entrepreneurs help sustain livelihoods and support local economies.
“The informal sector represents the resilience and determination of our people. Supporting these entrepreneurs is essential not only for job creation but also for inclusive regional and national development. When we empower small businesses, we strengthen communities and build a more balanced economy,” he said.
Rodney Coetzee, head of enterprise direct at Standard Bank Namibia, said the initiative aims to prepare entrepreneurs for growth.
“Meaningful growth requires preparation, structure and support. This programme is not about promising capital but about preparing entrepreneurs to become ready for capital,” Coetzee said.
The Informal Sector Track was developed after recognising that many entrepreneurs struggle to engage with formal financial and regulatory systems despite strong business potential.
The programme will run throughout the year. It will guide entrepreneurs through financial management, operational discipline and market readiness as part of efforts to strengthen enterprise development in Namibia.
