Iipumbu challenges SMEs to grow

Industrialisation and trade minister Lucia Iipumbu has called on small- and medium-sized enterprises (SMEs) to grow from informal activities into reputable businesses.

She was speaking at the opening of the 13th edition of the Eenhana Expo last week.

Iipumbu said the growth of Namibia's economic landscape is pegged on the quest to use all available resources and innovate new products to serve the local market and, ultimately, drive exports.

This can only be achieved through deliberate efforts to diversify SME business portfolios and venture into value addition of their products, she said.

“This platform must also assist us to learn valuable business lessons from one another while ensuring that we forge collaborations which may culminate into sustainable business ventures,” Iipumbu said.

Innovation

She said for businesses to thrive, innovation should be looked at from a broader perspective, which includes new product development, innovative business models and processes and as well as adopting modern business management styles.

“We have a variety of products at our disposal, most of which go to waste without adding value. These include most raw materials such as marula, Kalahari melons and ximenia, which are very critical inputs in the cosmetic industry.

“Other products which may be transformed into differentiated products include eembe, wood, palm fruits and marula juice,” the minister said.

According to her, the Ohangwena Region is endowed with a wide range of resources, which can be leveraged to bring about much-needed economic activity to create jobs, especially for the youth.

Iipumbu said there are key niche sectors which SMEs need to pay special attention to and turn into viable businesses. These include agriculture and agro processing, cosmetics, textile, tourism and manufacturing, she said.