Standard Bank Namibia Advances Inclusive Growth Through Blue Growth Series Informal Sector Activation

The engagement brought together over 100 informal entrepreneurs under a shared objective: advancing inclusive economic growth by supporting informal enterprises to transition toward structured, sustainable, and scalable businesses.

Anchored in Standard Bank Namibia’s purpose-driven commitment “Namibia is our home, we drive her growth”, the Blue Growth Series focuses on building enterprise readiness through skills development, financial discipline, and improved access to markets.

Delivering the keynote address, Governor of the Khomas Region, Hon. Sam Nujoma, delivered on his behalf by His Worship Mayor Clir. Sackarias Uunona, emphasised the central role of informal entrepreneurs in sustaining livelihoods and strengthening local economies.

“The informal sector represents the resilience and determination of our people. Supporting these entrepreneurs is essential not only for job creation, but for inclusive regional and national development. When we empower small businesses, we strengthen communities and build a more balanced economy,” the Governor said.

Standard Bank Namibia expressed appreciation to its partner, the Namibia Investment and Finance Academy (NIFA), as well as collaborating stakeholders including the Governor’s Office, the City of Windhoek, the Namibia Chamber of Commerce and Industry (NCCI), and Future Media, for their collective support in advancing the Blue Growth Series as a vehicle to support Namibia’s national agenda on enterprise development.

Speaking on behalf of Standard Bank Namibia, Rodney Coetzee, Head of Enterprise Direct highlighted that the Blue Growth Series prioritises enterprise readiness rather than immediate funding.

“Meaningful growth requires preparation, structure and support. This programme is not about promising capital, but about preparing entrepreneurs to become ready for capital by strengthening financial discipline, market access and operational capability,” he said.

The Informal Sector Track was developed in response to growing recognition that many entrepreneurs face barriers engaging with formal systems despite strong business potential. Through structured training and guided development, the programme aims to bridge the gap between informal trading and sustainable enterprise growth.

Providing an overview of Namibia’s informal economy, Arinze Okafor, CEO and Founder of the Namibia Investment and Finance Academy (NIFA), underscored the scale and economic importance of the sector.

“Namibia’s informal sector is a major economic driver, contributing 26.5% to GDP and employing nearly 58% of the nation’s workforce. Supporting informal enterprise is therefore central to inclusive economic growth. Funding alone does not grow businesses, revenue drives growth, structure sustains it, and partnerships enable scale. Our collective task is to build the bridge from informal activity to sustainable enterprise,” Okafor said.

The programme will run throughout the year, guiding entrepreneurs through practical steps including financial management, operational discipline, and market and investment readiness development.

By strengthening informal enterprises, stakeholders aim to expand employment opportunities, improve productivity, and contribute to a more inclusive and resilient Namibian economy.

The Blue Growth Series continues to demonstrate the power of collaboration between financial institutions, government, and ecosystem partners in unlocking entrepreneurship as a driver of national development, reinforcing Standard Bank Namibia’s commitment to driving sustainable growth across communities and regions.

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