Namwandi revealed this at the university’s 20th convocation ceremony in Windhoek last week. “The David Namwandi Trust is ready to receive applications for funding seed capital. Some coins were put aside for you to establish businesses.
“If you are mindful that unemployment is real, then there is an opportunity for you to get seed capital from the David Namwandi Trust,” he said. Namwandi said beneficiaries would not be charged interest when repaying the capital. “The only thing expected of you is to deliver and to promise us, the trustees, how many employees you would have and would sustain,” he said.
Namwandi said the university would found and open five companies this year. “This year, the university is creating or opening five companies where you, those who will bring potential project ideas, will become shareholders of these companies, and IUM members will be directors of those companies,” he said. “The directors of these companies will be there until you are on your own, and you take the company maybe after five or 10 years.
The only thing you have to do is bring back the initial seed capital. “These will be five companies for Namibian students who studied at IUM only,” Namwandi said. He said seed capital is also avialable to students who have graduated from the University of Namibia, the Namibia University of Science and Technology, and other institutions accredited by the Namibia Qualifications Authority and the National Council of Higher Education.