MSME owners pitch before Investment Commission and World Bank panels

Three of the best pitches out of a group of eight MSMEs won access to prize money and training on the fundamentals of business management. The event was a Chelete Cage pitching session conducted by the Namibia Investment Promotion and Development Commission and the World Bank Group.

Abner Tomas won the first prize of N$30,000 for elegantly promoting his business, Ndaka Mushrooms & Processing, a small company specializing in sustainable mushroom cultivation and marketing. Abner also provides training and advice to other small entrepreneurs who want to grow mushrooms.

About participating in the Chelete Cage pitching competition, Abner said it was an eye-opening experience, adding that he appreciated the networking and coaching.

When asked how he plans to use the prize money, he said he invested the initial N$10,000 in purchasing materials and added another 9 square meters to the mushroom fruiting chamber to increase production. With his remaining N$20,000, he hopes to obtain certification from the Namibian Standards Institute and the Namibian Agriculture Commission.

The second strongest pitch was made by Mareka Masule of Ilotu Investment, winning N$20,000 for her small concern manufacturing organic and natural cosmetics and providing fitness and health services for holistic wellness. bottom.

The third prize of N$10,000 went to Loide Dawid of K12 Edtech Inc, who digitizes and automates educational technology processes from kindergarten to secondary level.

The Chelete Cage session is part of the Investment Committee’s initiative to close funding gaps and help MSMEs grow. His next Chelete Cage will be held later this year.

Mr. Dino Barotti, Executive Director of MSME Development, Innovation and Acceleration, Namibia Investment Promotion and Development Commission, Mr. Ganesh Rasagam, Lead Private Sector Specialist, World Bank, Winner and Judge of the Chelete Cage Pitching Competition.