29 June 2012

Namibia: Employment Creation Concept Launched

Photo: Laura Lopez Gonzalez/IRIN
Unemployed youth in the streets of Namibia (file photo).

Due to the fact that the unemployment rate is very high, Penta Stream Investments took it upon itself to come up with an employment creation concept, called Penta Gold, to meet government half way in terms of job creation.

Penta Stream Investments is a Namibian consulting company that was founded in 2010. Speaking at the recent launch of the investment company, Erastus Nekomba said they have realised that the majority of Namibians have business ideas, but they don't know how to implement them, neither do they have funds to implement them nor the necessary skills.

The employment creation concept Penta Gold was launched to help address these shortcomings. Penta Gold offers free business training and interest-free economic development loans.

According to Nekomba, Penta is a private sector initiative established to complement government efforts toward economic development through the integration of SME's and helping to build their productive capacity through training and funding.

"We provide free business development training and interest-free economic development loans to our registered members," he noted.

Nekomba says jobs are hard to find and government's efforts alone are not sufficient to sustain economic growth.

"At such critical times as these, private-sector initiatives are the most viable alternatives for economic investments," said Nekomba.

"Creating private sector partnership with relevant stakeholders such as the community at large is the only way to ease economic pressure off the shoulders of the common citizen," he said.

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