Economic Empowerment
Old Mutual rewarded with certificates the first group of women who participated in the Old Mutual Namibia's Women's Micro Business Project on Monday.
The graduation ceremony completed the financial training that Old Mutual provided in conjunction with the Polytechnic of Namibia Centre of Entrepreneurial Development (CED).
"The women's micro-business project was developed specifically with the aim of giving female entrepreneurs from all over the country the opportunity to start and run their own business. The project targets small businesses run by women from all ages, in every sector," stated Old Mutual's marketing manager, Tracy Eagles.
She explained that the project is structured in such a way that it meets financial needs of the participants while creating avenues for empowering women through financial training and business management.
She said each of the recipients also received a loan of N$20 000 which is to be repaid over five years with the first year as a grace period, and that one of the obligations is that the women attend financial training and business management courses offered by Old Mutual in conjunction with the Polytechnic of Namibia.
"The project is an annual initiative aimed at achieving sustainable development and empowerment for women through skills building and education. Gaining access to employment is not a simple task, especially for the women of Namibia. This way the women can be self-employed and self-sufficient. Creating a greater feeling of self-worth and stimulating self-reliance," she said.
According to Polytechnic of Namibia Centre of Entrepreneurial Development Project Officer Cynthia Kaimu, at a time when the country is faced with a high unemployment rate, it is inevitable that small to medium enterprises (SME's) would likely be employers of the increasing number of job seekers.
"The SME sector is the largest sector in terms of employment creation and is thus a sector to be supported immensely through training and financing to ensure sustainable business ventures that will make significant contribution towards socio-economic development," she said.
She added that Old Mutual's contribution to the project has started to yield development impact looking at the progress of the 2010 beneficiaries in the different regions.
The graduation ceremony did not only mark the success of the first group of women participants but also marked the intake of the second group of women taking part in the scheme.
"The intake of the second group of participants demonstrates the organisation's dedication to the long-term empowerment and stimulation of women, right here in Namibia," she stated.
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Giving her testimony, Khomas Region pillow manufacturer Katrina Haidula explained that she had always been in the trading business but due to lack of training her success was still something she needed to achieve..
"I completed my training in May 2011. With the knowledge I gained, I made several changes to how to conduct my business. For example, I opened a different account for my business, I bought machinery which enables me to produce more pillows faster and my client base has increased," she said.
She noted with the much-acquired skills she looks forward to expanding her current business as well as owning her own premises.
Along with Haidula, the awarded graduates were Mekelae Mututa, a groceries vendor from Keetmanshoop, Ivondia Mungunda in poultry from Omaruru, Helena Negungu in construction from Walvis Bay, Rosa Narib in catering from Windhoek, Lisethe Mbaha in clothing manufacturing from Tsumeb and Judith N