Windhoek — Namibia has created an able environment for small and medium enterprises to grow and prosper, however many entrepreneurs do not have access to information, trading facilities and financial services.

"One of the many challenges faced by the SMEs sector is the fact that Namibia creates entrepreneurs, but do not grow them. To grow an entrepreneur in a competitive market enviroment, takes more than a good policy legislation or economic infrastructure. It takes nurturing, support, training, education, market research and continuous motivation," said Councillor of the City of Windhoek, HangapoVeico, at the opening of the Wanaheda Industrial stalls this week.

He said the Namibian economy continues to lose its potential for growth because a large majority of entrepreneurs do not have access to information and to trading facilities, lack required skills, have no access to financial services and lack advice.

"The development of the small business sector has been dully identified to be the vital element in the City of Windhoek's overall economic development strategy. It is therefore important to note that in our efforts to eradicate poverty, we must take a broader approach to bring about the empowerment of individuals and communities. The City considers this approach to be crucial in the national efforts to broaden the base of the economy and thereby reduce the gross inequities that have characterised our economy for years," Hangapo said.

The City of Windhoek has developed the Local Economic Development Strategy (LED) which aims to give impetus to the growth and diversification of the local economy through supporting the SME sector.

The Wanaheda stalls were build as part of this project to provide small scale businesses with a facility which to operate from. The first phase of the Wanaheda Industrial stalls cost N$6.9 million. The six stalls have been occupied since July this year.

Businesses hosted at the venue include textile, printing, motor mechanics and electrical repairs, refrigerator repairs, panel beating and spraypainting. So far 67 people have been employed at the businesses.

The second phase of construction at the Wanaheda Industrial stalls will only continue once more funds are available, the City announced.