SMEs crucial to Namibia’s economic growth, says FNB

Small and Medium Enterprises (SMEs) are playing a growing role in economic development, with their impact reaching beyond just job creation. According to FNB Namibia’s Head of SME, Nesdha De Jongh, SMEs are key to addressing some of the country’s most pressing issues, including high youth unemployment and inequality.

“SMEs are the backbone of the economy,” De Jongh said. “We need to empower their growth so that they’ll be able to absorb more employment, create better jobs, and ultimately contribute to the GDP of the country.”

He said that most businesses in Namibia fall within the SME space and, while each may employ only one or two people, their broader contribution is significant.

“Every SME feeds how many community members?” he asked. “You get those entrepreneurs who say they have to sell to feed their family—and when they are selling for purpose, they are solving for the community.”

De Jongh said there is a need for a strong support system made up of banks, government institutions, and the private sector to help SMEs grow and thrive.

“This is a purpose-driven sector that, when supported, contributes directly to economic stability and long-term development,” she said.

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