Economic Advancement

SME Development

Dundee Precious Metals Tsumeb Community Trust believes that social economic development is achievable through Public Private Partnerships. As it has the potential to ensure a positive community benefit delivery where partners understand and share the risks and long-term benefits of their investments.

Economic progression

In its efforts to complement the Government of the Republic of Namibia to achieve inclusive, equitable and sustainable economic growth, the Trust continued to fund small-and medium-sized enterprises that significantly contribute towards Tsumeb’s economic development.

Training, mentorship and capacity building

The Trust intends to grow and support the local business community in Tsumeb and surrounding areas. The Financial Literacy Initiative (FLI) approached the Trust to train 50x micro enterprises and 30x SMEs selected to undergo financial business management training.

The Trust teamed up with FLI in 2019 to provide: 1 Basic financial business management training for micro entrepreneurs 2 Advanced financial business management training for

SMEs (previously funded by the Trust) The training took place over two weeks, five days for micro entrepreneurs and five days for SME’s.

The objective of the training was to educate small businesses owners on financial literacy and financial management skills. The training aimed at increasing the general capability of the business owners/ managers. This will ensure that they can manage business financials, increase their knowledge on financial concepts, products, services and institutions. As well as to enable entrepreneurs to take solid and educated financial decisions.

Furthermore, the training transfered practical knowledge and skills on topics like costing, pricing, budgeting, short- and long- term financial planning, bookkeeping, saving, spending, purchasing, banking, taxes – for both the private and the professional life of the entrepreneur.

Financial Literacy Training

Handover of equipment to L.J. Cobine Investments.

SME Grants - Financial support to local entrepreneurs

The Trust awarded six (6) SME Grants in 2019 of which four (4) were female and two (2) were male. A total investment of N$ 348,678.93 was invested towards the six (6) SME’s.

Business (cc) VicNak Trading Enterprise Owner Type of Business Value N$

Ms. Ivondia Nakie Tjupura Fast Food Takeaway NAD 78,790.72

L.J Cobine Investments Ms. Jacobine Razembua Tjakarua Tyre Sales and Repairs NAD 89,632.00 Mariam Kapana Trading Ms. Mariam Simon Meat/ Kapana NAD 55,178.15 Maria’s Tuck Shop Ms. Maria Stoffel Tuck Shop – General Dealer NAD 14,990.70 Tutungeni Engineering Investment Mr. Jonas Kamati & Mr. Elias Ruben Carpentry and Welding NAD 49,599.00 Norich Investment Mr. Oscar Bennet Norich Cyber Café NAD 60,488.18

SME Development (cont’d)

SME & Street Vendor Market

Construction of the SME & Street Vendor Market Project in partnership with the Tsumeb Municipality – PHASE 1: Overall Investment 1.6 Million.

The Tsumeb Municipality approached the Trust for funding in 2018 towards the construction of a SME & Street Vendor Market with the aim to: • Create a environment where small businesses can operate in a more organised fashion. • Control the ever-increasing unlicensed business activity in the town. • Offer affordable rental space for SME’s to operate from, without fear of survival in the long run Many small businesses, especially in their early stage operate from rental space which is not affordable. This restricts small businesses from growing and expanding because their rent costs take much of their profit. The SME & Street Vendor Market will provide space for: • 12x SME offices • Street Vendor stalls • Space for Kapana Vendors • Ablution facilities

Due to lack of additional funding required for the project, the Trust approached NIMT and COSDEC Vocational Centers who are also beneficiaries of the Trust support, to partner on the project to cut costs. The two institutions welcomed the proposal and committed themselves towards the project. Due to a lengthy tender process undertaken the project could only kicked-off in November 2019 and closed for the contractor’s holiday from 15th December 2019 to 15th January 2020 and this delayed the project implementation. The project commenced just before the rainy season and this slowed the progress of the construction due to rain.

Site progress monitoring visits with Tsumeb Municipality, NIMT and COSDEC

More SME success stories

Equipment, machinery and tools handover to successful individual business grant recipients.

Women leading in business, and thus ensuring livelihoods to support their households.

Vicknack Trading Enterprise

Nakie Tjipura is one of four women who are beneficiaries of the SME Grants.

Maria’s Tuck Shop

Monitoring visits of grant recipients With the help from the Trust SME’s were able to generate an income during the past 6 months which enabled most of them to expand their business operations.

Tutungeni Engineering Investment Carpentry and Welding

Oscar Norich Investment, Cyber Cafe