Investing in small businesses

Staff reporter Local furniture retailer Nictus embarked on an empowerment programme that supports small local entrepreneurs with capital to fund their manufacturing operations, in addition to their products being sold at Nictus Furnishers’ Windhoek branch.The programme, which prioritises entrepreneurs creating products locally, was introduced to support local manufacturers who often lack the necessary funds to create products on a larger scale and compete with foreign brands.Nictus chief executive Francois Wahl described the programme as a collection of efforts that solve many of the hurdles that Namibian entrepreneurs face.“Now the entrepreneur does not only get their products housed by a recognised brand like Nictus, they are also able to get access to capital that is specific to what their business needs to compete with big names,” Wahl added.One of the first local entrepreneurs to go through the initiative is Petrina Ashipala, the owner of Meme wOmabean Bags, a company that creates a type of furniture known as bean bags.Ashipala described Nictus’s involvement as a lifeline that every entrepreneur needs, especially during this pandemic that has shifted how a lot of people do business. She said the partnership will introduce her products to a wider customer base and in turn increase product output, sales volume and overall business growth.Nictus is a wholly-owned Namibian furniture retailer. The company’s owner, Nico Tromp, succumbed to Covid-19 last weekend. Tromp had dedicated over 40 years of service to Nictus.

Investing in small businesses

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Namibian Sun 2022-08-17

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Investing in small businesses

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Namibian Sun 2022-08-17

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