Trust promises graduates N$3 million in seed capital – Latest News

The founder of the International University of Management (IUM), David Namwandi, says his trust, the David Namwandi Trust, has committed N$3 million to graduates as seed capital for job-generating projects.

Namwandi revealed this last week during the university’s twentieth convocation ceremony in Windhoek.

“The David Namwandi Trust is ready to receive applications for seed funding. Some coins were set aside so you could start companies.

“If you are aware that unemployment is real, then there is an opportunity for you to get seed funding from the David Namwandi Trust,” he said.

Namwandi said the beneficiaries will not have to pay interest on repayment of the capital.

“All that is expected of you is to promise us, the administrators, how many employees you would have and maintain,” he said.

Namwandi said the university would establish and open five companies this year.

“This year the university is creating or opening five companies where you, those who will contribute potential project ideas, will become shareholders of these companies, and IUM members will be directors of those companies,” he said.

“The directors of these companies will stay there until you’re on your own, and you might take over the company after five or 10 years. All you have to do is bring back the starting capital.

“These will be five companies for Namibian students who have only studied at IUM,” Namwandi said.

He said seed funding is also available to students who have graduated from the University of Namibia, the Namibia University of Science and Technology and other institutions accredited by the Namibia Qualifications Authority and the National Council of Higher Education.
“So we don’t discriminate against anyone. Please take advantage of this opportunity,” he said.

Recent media reports alleged that the IUM is involved in the political activities of the Independent Patriots for Change through the purchase of 101 GWM P-series double cabs for party campaigns.

However, the institution has distanced itself from these allegations.

“Let me be clear: the IUM is an institution dedicated to transferring skills through research and innovation – nothing more, nothing less.

“We will not yield to any pressure intended to compromise our integrity and deviate from our sacred course and core mission,” Namwandi said.

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