Interview: Blue Growth Series Attracts Over 340 Entrepreneurs, Spotlight on Informal Sector

Standard Bank’s latest entrepreneurship initiative — the Blue Growth Series — has received over 340 applications within two weeks, with close to half coming from the local informal economy. This was revealed by Arinze Okafor, the founder of the Namibia Investment and Finance Academy (NIFA), during an interview on Fresh FM earlier today.

“The response has been overwhelming,” Okafor said, noting that approximately 170 applicants are informal traders such as kapana sellers and market vendors. “These are people already running businesses and employing others, but just lack formalization and support.”

The Blue Growth Series aims to empower over 100 small and medium enterprises (SMEs) through financial literacy, global certification opportunities, and entrepreneurial skills development. The program is a collaboration between Standard Bank and NIFA and ties into broader national efforts like NDP 6 and the National Youth Fund to drive youth entrepreneurship.

Okafor also highlighted past achievements, such as launching Africa’s first Bloomberg Finance Lab in partnership with MTC and NUST, which many Blue Growth participants will now benefit from.

While the official closing date for applications is today, Okafor confirmed that the application link will remain active throughout the year to accommodate additional interest. The first training event is scheduled for Windhoek in the next two to three weeks, with outreach plans for other regions to follow.

More information is available at: www.nifa.com.