One Economy Foundation awards Best Innovative Business Idea

The One Economy Foundation (ONE) continues to keep its fingers on the pulse of entrepreneurs by investing in the growth of youth businesses. ONE sponsored N$10,000.00 to Johaness Shiwombolo, who won the pitching competition for the best business idea at the Entrepreneurship Masterclass hosted by ML Foundation. Johannes is a chemist by profession and started his detergent company last year after he was following his retrenchment. His business, SG Cleaning Chemicals, manufactures cleaning detergents such as dishwashing liquid. The One Economy and ML Foundation will provide business growth support and mentoring to SG Cleaning for three months.

The Masterclass, which was attended by 50 entrepreneurs, took place on Saturday, 30 January 2021, in Windhoek. The attendees benefited from business skills development sessions, including conducting market research, business registration process, complying with statutory requirements, networking, and partnership development. The entrepreneurs also received information on how they can leverage opportunities through the recently launched Africa Continental Free Trade Area (AfCFTA).

The CEO of One Economy Foundation Sem Mandela Uutoni underscored that "We prioritize supporting grassroots and small and medium-sized businesses as they are key to job creation, stimulating local economic development, and improving livelihoods. Therefore, we initiate, strengthen and support initiatives which improve the resilience, capacity, and capital of entrepreneurs.”

Beneficiaries of the One Nation Fund, a collateral-free lending scheme by the One Economy Foundation, also attended the Masterclass. MYM Trading is the manufacturer of Mutete Hibuscus Juice, and they sponsored Mutete Juice for all the Masterclass attendees.

The event ended on a high note, with most participants noting that the platform provided them with relevant information on how to harness value chains in the different sectors they operate, leverage international trade opportunities, and create partnerships to strengthen and sustain their businesses.

Following a successful Masterclass, Mrs. Monica Geingos, First Lady of the Republic of Namibia, has committed to purchasing her household cleaning materials from SG Cleaning in an endeavour to support local manufacturers. She encourages all Namibians to support local goods and services when possible.