Entrepreneurship a reliable domestic industrial development driver: Alweendo

TSUMEB: Entrepreneurship development is not only the essential prerequisite for the creation of substantial employment opportunities, but it is also the most dependable catalyst for domestic industrial development.

These remarks were made by Minister of Mines and Energy, Tom Alweendo, during the official opening of the Copper Festival in Tsumeb on Thursday, being held under the theme 'empowering entrepreneurship in a sustainable Namibia.'

Alweendo highlighted that the theme for this year's festival holds significant relevance to the national economic development efforts currently underway in Namibia. He emphasised that the festival offers a valuable platform for entrepreneurs to showcase their products to various visitors and promotes stakeholder engagement, which is crucial for business growth.

'During the festival, new business ideas can be sparked, partnerships can be formed, and significant sales can be achieved. Consequently, the festival fosters economic growth by promoting local economic initiatives. These efforts make a positive contribution to poverty alleviation and employment generation,' he remarked.

The minister expressed his belief that Tsumeb has the potential to become Namibia's focal point for agro-processing, mineral beneficiation and innovation. He also noted that the government will continue to strengthen its efforts to ensure the expansion and enhancement of small and medium enterprises.

'In this regard, we will place more emphasis on encouraging and providing funding and market support. Furthermore, we are working on removing constraints that hinder entrepreneurial activities and the growth of small businesses into medium and large-scale competitive enterprises,' he added.

Alweendo concluded by saying that there has never been a more opportune time for Namibia to attract heightened global economic attention.

'I dare say that we seem to have crossed the rubicon in positioning ourselves as an attractive international investment destination.'

Source: The Namibian Press Agency