More than 70 percent of Namibia’s small and medium enterprises (SMEs) are led by women, according to First National Bank (FNB) Namibia, highlighting a shift towards more inclusive entrepreneurship in the country.
Connie-Marlene Theyse, head of enterprise banking high touch and mid corporate at FNB Namibia, said this figure reflects the growing impact of women in the country’s business landscape.

“By the end of 2025, 60 percent of emerging markets will be driven by microeconomic enterprises, 58 percent of which will be led by women. In Namibia, we’re proud to say that women lead over 70 percent of these enterprises. This is evidence that Namibian entrepreneurship has entered a new era,” said Theyse.

She noted that entrepreneurship, once largely overlooked, is now recognized as a driving force behind innovation, employment, and national pride.

“Whether starting with a bold vision or a small spark of an idea, Namibian entrepreneurs are building businesses that scale, inspire and lead,” she added. Deputy Minister of Education, Innovation, Youth, Sport, Arts and Culture, Dino Ballotti, said there is still work to be done to change outdated views of entrepreneurship.

“Entrepreneurship remains taboo in Namibia. We need to encourage entrepreneurship not just out of necessity or for survival, but to foster the growth of businesses that are scalable and capable of creating jobs. That is how we build sustainability and contribute meaningfully to a thriving economy,” said Ballotti.

FNB Namibia said its support for SMEs is closely aligned with national development goals, with a strong emphasis on long-term business sustainability. Nesdha De Jongh, SME Sub-Segment Head at FNB Namibia, said the bank is committed to walking alongside local entrepreneurs throughout their growth journey.

“It  is not just about business growth, it’s about creating an environment where entrepreneurship can thrive and meaningfully contribute to Namibia’s broader development goals,” De Jongh said.

He added that the bank’s approach extends beyond financial services. “Business growth does not happen in isolation, it requires knowledge, networks, and consistent support. We aim to walk alongside entrepreneurs, equipping them with practical tools and resources to help them move from start-up to scale-up,” he said.

Reflecting on her own entrepreneurial journey, entrepreneur and speaker Connie Ferguson emphasized the importance of authenticity and purpose. “As an African entrepreneur, it is important to own your story. Your ‘why’ should be absolutely clear, because when you understand your purpose, it becomes easier to navigate the challenges,” Ferguson said.
“Your unique voice is what will set you apart in a crowded marketplace. Know your value, own your story, and market what makes you different.”
 

Report: The Brief