Erasmus Shalihaxwe
The Development Bank of Namibia (DBN) there is a low uptake of its youth financing products.
DBN chief of marketing and corporate affairs, Jerome Mutumba, said the trend is concerning.
This comes as the bank approved N$74.6 million in total SME funding in the past financial year.
Of that amount, only N$170 000 was allocated to skills-based finance.
“It is worrisome that despite Namibia’s high youth unemployment and the bank’s efforts to develop solutions tailored for young people, the uptake remains low,” he said.
In the first quarter of the 2025/26 financial year, the bank approved two applications, amounting to N$1.25 million, under its youth-focused SME facilities. One of the approvals was in the Zambezi Region, the first of a kindin that area
To address the low uptake, DBN has launched a national campaign to raise awareness of its financial solutions for young entrepreneurs and small business owners.
Mutumba said the campaign is part of the bank’s mission to promote sustainable enterprises and drive economic growth.
DBN offers Skills-Based Finance to eligible artisans and professionals aged 35 and under.
The facility has fewer requirements and aims to make capital more accessible to young people seeking to start or grow a business
“We expect to change the undesirable status quo. This campaign will be rolled out across various media platforms, including community outreach, regional roadshows, social media drives, and stakeholder engagements nationwide,” said Mutumba. “The objective is to ensure that Namibian youths with viable business ideas or marketable skills can access business finance.”
He said the bank plans to remove barriers by engaging directly with youth and working with partners to expand its reach.
“The Development Bank of Namibia remains committed to promoting inclusive economic participation and supporting the country’s broader development goals,” Mutumba said. He encouraged young people to visit the DBN website, regional offices, or attend outreach sessions to learn more.
