Economic growth has been declining for the most part since and has been further slowed by the coronavirus pandemic. This has mainly affected micro, small and medium-sized enterprises MSMEs , which have had to cut jobs. An inclusive economic upturn requires far-reaching structural changes as well as greater productivity and innovative capacity. It is therefore necessary to create an environment in which the private sector can thrive and contribute to growth.
Given the important role of MSMEs, the government launched the national development plan to The aim is to establish value chains in order to reduce raw material exports and involve MSMEs in processing in the country.
The project works directly with MSMEs and commercial financial service providers and also enables business associations and existing programmes to provide companies with needs-based support. Furthermore, it is committed to ensuring that a suitable institutional and regulatory framework is in place. It operates in two fields of action:.
In both components, training courses are held to promote the entrepreneurial and financial skills of MSMEs in Namibia. Objective Micro, small and medium-sized companies are benefiting from economic recovery. Approach The project works directly with MSMEs and commercial financial service providers and also enables business associations and existing programmes to provide companies with needs-based support. It operates in two fields of action: Private sector promotion sharpens the strategic focus of business associations and adapts their business services to the needs of MSMEs.
The focus is on optimised production processes and lower production costs. Financial sector development improves access to financial services for MSMEs and supports financial service providers in developing their services. The improved services are offered together with training courses for MSMEs to promote investment and inclusive growth. Last update: November
