Martin Endjala
Old Mutual’s Sustainable, Economic, and Empowerment Drive (OM SEED) has announced its 2024 edition, which will focus on the northern regions of Ohangwena, Zambezi, Oshikoto, and Kavango West.
For its third edition, the Old Mutual Foundation has allocated N$800 000 to support grassroots entrepreneurs in these areas.
Last week, Windhoek hosted the initiative’s launch.
Old Mutual Namibia’s executive group marketing, public affairs, and sustainability, Mignon du Preez, stated that the organization strategically selected the four regions to promote entrepreneurship, generate value within local communities, and tackle the United Nations’ Sustainable Development Goals (SDGs).
“Through capital provision and incubation support, the Old Mutual Foundation empowers aspiring entrepreneurs to realise their full potential and make enduring positive impacts within their communities. OM SEED’s overarching objective is to extend this entrepreneurship support to 14 regions by 2025,” she said.
OM SEED partnered with the Financial Literacy Initiative, the United Nations Development Programme (UNDP), and Basecamp.
OM SEED, introduced in 2022, provides capital and incubation support to help entrepreneurs establish sustainable businesses.
One of the 2022 second prize winners, Ndangi Efraim, explained that the programme is a powerful platform that empowers entrepreneurs to enhance their business ideas or existing business activities.
“Our experience as second winners was that the money really enhanced our business. We brought quality materials and expanded our market to supply bread to most informal business settlements. We no longer use wood; we relocated to a building with electricity. We got training, which helps in business innovation. Networking was crucial as we still exchange ideas with those people and do business,” said Efraim.
Taljaard Uaputuaka, founder of TJF Investments CC, who secured the first-place position in the Hardap Region last year, commended the Old Mutual Foundation for investing in his business and dream to create reusable sanitary pads.
“At TJF Investments CC, our commitment lies in merging environmental awareness with economic advancement. OM SEED propelled us towards our goal of creating reusable sanitary pads, further empowering our efforts. The awarded funds have played a crucial role in extending our impact and optimising our resources,” he said.
