SDGIF making a difference ELLANIE SMITWINDHOEK
Since its inception last November, the Sustainable Development Goals Impact Facility (SDGIF) has financed 66 micro-, small- and medium-sized enterprises - to the tune of more than N$5.71 million.
This was announced at an SDGIF gala dinner and fundraiser in Windhoek last week.
The event was jointly hosted by the industrialisation and trade ministry and the United Nations Development Programme (UNDP) Namibia.
The event created a platform for decision-makers and captains of industry in Namibia’s public and private sectors to collaborate towards providing sustainable solutions to micro-, small- and medium-sized enterprises (MSMEs) by contributing to the SDGIF.
Minister of trade and industrialisation Lucia Iipumbu recognised the economic uncertainties and pressures currently experienced by businesses and individuals.
She said the fundraiser was expected to 'further cement' a long-lasting partnership between the private and public sectors.
The minister said micro-SMEs are the roots of the economy and if supported and developed, they can grow into larger companies with a great contribution to the country's economy.
She added that skilled and well-equipped MSMEs can impact the economy from the bottom up as they contribute to job creation, local value addition and economic growth.
Iipumbu said it is imperative to develop enterprises, be it micro or large, that can create social impact and are attuned to the Sustainable Development Goals.
“It is also vital that both the public and private sector continue to generate market intelligence that can posit our economy towards new avenues and sectors of growth such as those espoused in the investor report we are launching tonight."
Investor map
The Namibia Sustainable Development Goals Investor Map Report was launched at the event.
Jason Kasuto from Monasa Advisory and Associate Services presented the report and highlighted the rigorous process through which it was developed. His presentation included 15 investment opportunity areas (IOAs) that were unearthed by the process and the comprehensive market insight the report offers.
The SDGIF is valued at N$8 million and Standard Bank has matched the facility by offering optional loans for MSMEs.
The industrialisation and trade ministry also aims to create an endowment fund for the SDGIF to ensure sustainability, and has set aside N$2.5 million for it.