Standard Bank Namibia, in partnership with the Namibia Investment and Finance Academy (NIFA), has launched a four-month pilot initiative to support 40 micro, small, and medium enterprises (MSMEs) through mentorship and masterclasses under the Blue Growth Series.
The selected businesses were chosen from a highly competitive pool of 696 applicants, highlighting both the strong demand for entrepreneurial support and the untapped potential of Namibia’s small business sector.
Building the Backbone of Namibia’s Economy
Speaking at the launch, Rodney Coetzee, Head of Enterprise Direct at Standard Bank Namibia, said the programme is designed to strengthen the country’s small business ecosystem.
“MSMEs are the engine of Namibia’s economy. Through this programme, we are enabling entrepreneurs to shift from survivalist operations into sustainable, growth-driven businesses. Supporting their development is a direct investment in the future of our nation,” Coetzee noted.
The initiative is directly aligned with Vision 2030 and the Sixth National Development Plan (NDP6), focusing on job creation, financial inclusion, and long-term economic growth.
Driving Inclusivity: Women, Youth and Informal Businesses
A core feature of the programme is inclusivity, with at least 50% female participation and strong representation from youth and informal businesses.
Arinze Okafor, CEO and Founder of NIFA, stressed the importance of this diversity:
“NIFA exists to unlock knowledge and equip Namibian entrepreneurs with practical tools. The diversity of participants women, youth and informal businesses reflects the energy and potential of our entrepreneurial ecosystem. This pilot is about building resilience, ownership and bankability for long-term success.”
The informal ventures include hair and beauty, retail, technology repairs, food and beverage, agriculture, crafts and edtech, while formal and growth-stage SMEs represent technology, services, manufacturing, construction, retail, media, catering and agriculture.
Tackling Barriers to Growth
The Blue Growth Series aims to address long-standing barriers faced by local entrepreneurs, including limited access to finance, weak business management skills and lack of investor readiness.
According to Standard Bank and NIFA, the programme is designed to build a pipeline of “bankable, market and investment-ready MSMEs”, enabling entrepreneurs to engage confidently with financial institutions.
Each participant has completed a psychometric assessment to develop a personalised growth plan.
Practical Training and Global Certifications
Over the four months, participants will undergo more than 40 hours of structured training, delivered in two monthly sessions.
Modules cover:
- Financial governance and bookkeeping
- Business modelling and value scaling
- Entrepreneurial mindset and networking
- Cost management and revenue optimisation
- Artificial Intelligence and marketing fundamentals
- Compliance, access to financing, and investment readiness
- Growth strategy and innovation
Participants will also benefit from Bloomberg Finance Lab and Harvard ManageMentor certifications, boosting their competitiveness in both regional and global markets.
Although the current programme is limited to 40 MSMEs, Standard Bank and NIFA have confirmed plans to scale the initiative in future phases, extending support to more entrepreneurs across Namibia.
For now, the pilot is being hailed as a critical step in strengthening the MSME ecosystem one that could transform small businesses from survivalist ventures into engines of sustainable job creation and inclusive growth.
