OM SEED: Financing dreams

On 5 August, through the Old Mutual Sustainable, Economic and Empowerment Drive (OM SEED) initiative, Old Mutual Namibia, along with Launch Namibia, the Financial Literacy Initiative (FLI) and the United Nations Development Programme (UNDP) accelerator lab, awarded three entrepreneurs from Windhoek their share of N$85 000 prize money.During the award ceremony, Ndapewa Teressius, of the Connect Africa App, walked away with the first prize of N$50 000. Teressius could not hide her excitement when she was announced as the overall winner of the Windhoek edition of OM SEED.Teressius explained the programme to the judges, saying that by converting photos into sound, the Connect Africa app helps hearing and visually impaired people access necessary services on their own.The programme’s users can access financial services on their phones, participate in conferences and meetings without the assistance of sign language interpreters, study at institutes of higher learning, and much more, thanks to the app.StrenghtenJohannes Nawa of Community Bakery came in second place and won N$25 000."I will use the money to get a better place for my bakery that will enable me to start using electricity instead of wood when I bake," said Nawa.Diana Nakuumbe, who produces Eembe Jam, took third place and won N$10 000. Nakuumbe wants to buy a pulping machine with the money as well as improve the marketing of her products.The winners will be incubated for three months to assist them in utilising their training and capital in the most effective way to better position their businesses in the market.Entrepreneurs received commercial, financial, entrepreneurship, and leadership training during the Windhoek edition. The value of such training became extremely clear during the pitches, demonstrating how essential it is in assisting business owners in expanding their operations.Humbling experience"A little under a month ago, we launched OM SEED, and thereafter, our partner, Launch Namibia, travelled to the various communities in Windhoek, Keetmanshoop and Oshakati to sensitise them about OM SEED. When we closed off our entries on 22 July, we received over 800 applications from the three participating towns," Mufaro Nesongano, communications manager at the Old Mutual Foundation, said. He said it was a humbling experience to hear the various ideas pitched by the different entrepreneurs in business sectors such as pig farming, poultry, general dealer shops, technological apps, wellness services, beauty and hair products and agricultural produce. OM SEED has highlighted the need for initiatives that are aimed at our grassroots businesses.In conclusion, Iyaloo Ailonga, the acting secretariat manager of FLI, congratulated the OM SEED Windhoek winners. “They have shown hard work, dedication and commitment to realise their dreams through their pitches.”The next town&#039;s shortlisted candidates to receive training will be Keetmanshoop on 10 and 11 August 2022, with Oshakati being slated to take place on 17 and 18 August 2022.

OM SEED: Financing dreams

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