DBN launches campaign to boost youth access to finance

By Staff Reporter

In a bid to empower young entrepreneurs and combat youth unemployment, the Development Bank of Namibia (DBN) has launched a nationwide campaign on 23 July 2025, to raise awareness about financial solutions specifically designed for youth-led small and medium enterprises (SMEs).

The campaign aims to promote the Bank’s Skills-Based Finance facility, a funding option tailored for young artisans and professionals aged 35 and under. Unlike traditional SME finance, this facility features reduced requirements, making it more accessible to young people with business ideas or marketable skills but limited collateral or credit history.

According to DBN, uptake of youth-specific finance remains significantly low. Of the N$74.6 million approved for SME funding in the previous financial year, only N$170,000 was allocated to skills-based finance. In the current financial year (2025/26), only two approvals have been made under the youth facility, totaling N$1.25 million one of which was granted in the Zambezi Region, marking the first approval in that area.

Mr. Jerome Mutumba, DBN’s Chief of Marketing and Corporate Affairs, said the Bank is concerned about the underutilization of its youth-focused products.

“It is worrisome that, despite Namibia’s high youth unemployment and our efforts to develop solutions tailored for young people, the uptake remains low. We expect to change the undesirable status quo,” said Mr. Mutumba.

The campaign will be rolled out across multiple platforms including community outreach programs, regional roadshows, social media campaigns, and stakeholder engagements. The aim is to connect with young people directly, simplify access to finance, and provide clear guidance on the application process.

“We aim to make access to youth finance more inclusive,” Mr. Mutumba added. “That means meeting the youth where they are, breaking down barriers to entry, and working closely with stakeholders to amplify our reach.”

The Development Bank of Namibia emphasized that the campaign forms part of its broader mission to promote inclusive economic growth and support Namibia’s national development agenda. Youth with viable business plans or skills are encouraged to visit the DBN website, regional offices, or attend upcoming outreach sessions to learn more about available funding opportunities.

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