Exposure at trade fairs expands opportunities for SMEs.
Runner up: Best initiative to ensure that trade is inclusive and sustainable
Namibia Investment Promotion and Development Board (NIPDB)
KNOW2GROW HIGH POTENTIAL POOL
‘Through the Know2Grow High Potential Pool, NIPDB is equipping enterprises with the resources, tools and market access they need. We are pleased with this recognition for our dedication to supporting the expansion and global competitiveness of our MSMEs, and underscores our commitment to sustainable and inclusive trade that benefits all facets of society.’
Nangula Nelulu Uaandja Chief Executive Officer
WHAT THE JUDGES SAY
‘Intentional drive to support micro enterprises – often a neglected sector in export development.’
‘Strong elements in monitoring and implementing have had a positive impact on the programme’s overall success.’
‘Innovative partnership with the banks to support the programme.’
To fast-track promising micro and small firms, an export development programme supported by four banks provides companies with mentoring, trade fairs, certifications and more.
While Namibia’s economy has grown 52% since independence in 1990, the country's trade balance is negative, and it suffers from persistent inequality.
The Namibia Investment Promotion and Development Board (NIPDB) is strategically located in the Office of the President, seeks to unlock opportunities that offer all Namibians a better quality of life
NIPDB is the first point of call to attract and retain sustainable investment for private sector-led and inclusive economic growth. It also aims to improve Namibia’s competitiveness score, develop the required skills for sustainable investments that lead to job creation, and create an enabling ecosystem for MSMEs and investors.
NIPDB developed the Know2Grow High Potential Pool ‘to be a beacon of hope’ providing opportunities for businesses to scale from micro- and small- businesses to medium and beyond and become self-sustaining. Participating businesses are selected for the programme based on their business models, entrepreneurial spirit and demonstrated commitment to growth and development.
They compete for entry by submitting a one-minute video, and an online application with a business assessment and supporting documents. Pre-vetting is done by NIPDB’s Market Access and Export Division, and the final decision is made by an independent committee.
Businesses register via an app. This serves to create a national directory for potential clients, partners, investors and other stakeholders. The directory is used for networking among MSMEs to circulate export opportunities.
Businesses attend trade fairs abroad, and benefit from mentoring, business linkages, product testing, certification, licensing, and training on business processes, management and sales. The programme runs sector-specific peer learning sessions and conducts one-to-one coaching sessions.
Pragmatic partners
NIPDB partnered with Bank Windhoek, Nedbank, First National Bank and Standard Bank to fund the companies at trade fairs and expos. The partnership also helps the firms to benefit from coaching, business linkages, product testing, certification, licensing, business management and sales training.
Exposure at trade fairs expands opportunities for SMEs.
MEASURING SUCCESS
More than 80 firms from various industries participated in the 36-month long programme. Nearly one-third of participating microenterprises have graduated to small business status.
NIPDB introduced impact tracking tools to measure monthly business growth and facilitated one-on-one sessions. Most of the increase in growth (89%) has been in local markets, as a first step.
They used Google forms to track participating businesses within one week of a mission and issued follow-up forms in three-month intervals. This enabled NIPDB to quickly spot support gaps and ensure businesses were accelerating as expected.
Three market access and export promotion consultants provided follow up individual support to MSMEs; the support was measured through a monthly needs and progress form.
Since the programme launched NIPDB has engaged with about 30 micro and small businesses, offering them opportunities for growth and expansion. Five of these businesses were selected to participate in the Annual Investment Meeting 2023, while five others showcased their products at the South Africa International Trade Exhibition during the Africa Big 7 event.
‘This has given us global experience in a competitive world. There is so much potential for businesses to grow and excel in this pool - high risk, high value and high reward.'
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'This experience helped me thrive as a business leader: refining my skills, expanding my network, and positioning my business for sustainable growth. Invaluable mentoring has helped me keep track of my business records. Exposure at trade shows connected me to new markets. The platform transforms potential into impact.'
Owner, Oyetu Naturals
'From warm introductions to the right people to invaluable pitch training sessions, they’ve helped us take our vision forward and even win a global competition with a $30,000 cash prize. It’s been so encouraging to have their team root for us every step of the way. We’re truly grateful!'
Yyeni AI Business owner
Exposure at trade fairs expands opportunities for SMEs.
