Technology investment fund will accelerate Namibia’s development
To build a sustainable future for Namibia, we need to invest in Namibia. There needs to be an investment at all levels and in all sectors, but especially technology.
Namibia is looking at many different forms of investment - from investing in infrastructure, the green economy and oil to the Fourth Industrial Revolution (4IR). However, as a country championing itself as a ‘knowledge-based’ society, there needs to be more investment in technology. Actively investing in technology and innovation like Rwanda has done with its Rwanda Innovation Fund is driving and transforming the economy. The fund addresses the financing gap tech-enabled companies face at different growth stages in Rwanda and in the wider East African region.
"To address the financing gap, the project established affordable funding mechanisms for growth companies. This should also be used as a blueprint for Namibia," Llewellyn le Hané, executive chairman of Green Enterprise Solutions (Pty) Ltd, said.
Small country, huge potential
Countries don’t need to be large or have big populations to start investing in technology. Israel and Estonia are perfect examples of this. Israel invested more than US$8.4 billion in the last 12 months, with Estonia investing almost US$1.2 billion during that same period. Estonia has a population of 1.3 million, about a million fewer people than in Namibia.
"This goes to show that if the desire is there to innovate and invest, it is possible as a nation.
"If we are serious about moving away from being an agriculture-based society to becoming a knowledge-based and tech-driven nation, we need investment. This does not just have to come from the Namibian people and local institutional investors, although this would mean we keep ownership of anything that is developed, created and invented within our borders," Le Hané emphasised.
By creating the right ecosystem and path to access the necessary funding within a few years, a technology innovation fund could start bearing fruit.
"Our population is young and driven and capable. Africa has a population of more than a billion people, and we could be innovating and developing our own technology and applications. A Namibian government-driven technology fund could accelerate our development as a nation and put us in the driver’s seat well before 2063," he said.
From more insights and an overview of Green Enterprise Solutions' offerings, visit green.com.na.