To support youth employment, the Development Bank of Namibia skills-bases finance for youth pilot programme will provide finance for youth professionals. Youth professionals with NQF5 qualifications and up are invited to apply under this pilot programme, either as start-ups or for existing enterprises.
Duration of the pilot programme will be at the discretion of DBN, however recipients of finance will be financed will be financed for the duration of – and subject to- the agreement between the recipient and DBN.
Fields that qualify for finance may include:
- Boiler making, plating and/ or welding
- Carpentry and/ or joinery
- Fitting, turning and/ or diesel machining
- Petrol and/ or diesel mechanics
- Refrigeration and/ or air-conditioning
- Sheet metal work and/ or metal fabrication
Other forms of enterprises not related to professional skills may be financed under the DBN facility for SMEs.
To qualify for skills-based financed for youth artisans, applicants must:
- Be aged 35 or younger*
- Have a relevant professional qualification/ certification (NQF5 and higher)
- Have registration with a relevant professional body/ council
- Upon approval, be prepared to attend subsidised business training and mentorship as directed by DBN
- Develop a business plan and a cash flow projection
- Have registered a business plan and a cash flow projection
- Have registered a business (CC or sole proprietorship)
- Be prepared to obtained personal and business insurance, financed as part of the loan
- Mentoring/Training (BDS)
The lowest loan amount will be N$50,000 and the highest will be N$1 million. Finance will be approved on the basis of a basis of a business plan and cash flow.
Funds can be used for:
- Operating capital
- Operating capital vehicles for specialised business use
Subject to acceptance of DBN terms and conditions collateral and equity requirements may be relaxed. Each application will be treated on individual merit and at the sole discretion of DBN.
- Please complete and the application form.
- All supporting documents must be provided. Please refer to the applicant for checklist, and ask DBN for guidance on additional documents
- All pages of copies of documents must be certified. Certification by a DBN Commissioner of Oaths is preferred where possible.
- On acceptance of a complete application, an acknowledgement letter will be issued with a reference number.
- Applicants may be requested to submit additional information, and a return period will be specified. If information is not provided in the return period the application will be closed.
- An applicant may be requested to make a formal presentation as part of appraisal process
- DBN will review the application, and will inform the applicant of the decision. Approval, decline, or referral of an application is entirely as he discretion of DBN.
- Windhoek: tel. 061 290 8000, 12 Danial Munanava Street
- Ongwendiva: 065 230 129/ 230 130, 5626 Main Road, Trade Fair Grounds
- Rundu: tel. 066 357 735/ 257 736, Erf 2542, Eugene kakukuru St (MVA Centre)
- Walvis Bay: tel. 064 220 924/ 221 857, Erf 735 c/ o Nujoma Drive & 16th Rd
*Applicants up to the age of 40 may in some instances receive exemption and qualify for this finance at the sole discretion of DBN.