Hellen Amupolo, Head of Business and Commercial Banking at Standard Bank Namibia, has called for greater investment in women-led businesses, asserting that such support is essential to driving Namibia’s economic future.
Reflecting on International Women’s Day, Amupolo highlighted the transformative role of women entrepreneurs amid persistent barriers like limited access to finance and market networks.
“Investing in women entrepreneurs is investing in Namibia’s economic future,” Amupolo said in a statement.
She pointed to global trends showing women’s increasing influence in business, with women starting nearly half of all new ventures in 2024—a 69% rise since 2019. In Sub-Saharan Africa, female entrepreneurial activity leads the world at 26%, according to the Harvard University Centre for African Studies.
Despite this momentum, Amupolo noted systemic challenges, including women being 47% more likely than men to shutter businesses due to family pressures, as per the Global Entrepreneurship Monitor.
These issues resonate in Namibia, where many women-led micro, small, and medium enterprises (MSMEs) struggle with informality and funding gaps. Globally, women receive just 0.4% of venture capital, and African women access 13% less credit than men, she added.
To counter these hurdles, Standard Bank has ramped up initiatives like the Blue Growth Series, which Amupolo described as a “strategic national intervention.” The program, aimed at empowering women-led businesses to formalize, scale, and tap into broader markets, saw overwhelming demand with 695 applications—nearly half from women. Participants achieved key milestones, including statutory registrations, business account openings, and enhanced compliance, enabling them to tender for contracts and integrate into value chains.
Amupolo emphasized the program’s focus on knowledge building, with all participants completing Bloomberg Financial Foundations and three earning Harvard ManageMentor certifications, including a female construction company leader. “These global learning opportunities enhance decision-making, competitiveness, and leadership credibility,” she said.
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The initiative aligns with continental goals, such as the African Continental Free Trade Area, by connecting entrepreneurs to trade experts and policymakers. Amupolo linked this to the B20 Africa Special Report, which stresses empowering MSMEs and women for inclusive trade.
Looking ahead, Amupolo urged Namibia to embrace the International Women’s Day theme, “Give to Gain,” by recognizing that supporting women yields a stronger economy. “When women succeed, entire communities advance—they reinvest in households, create jobs, and build resilience,” she stated. Standard Bank is now accepting applications for the next Blue Growth Series cohort, reaffirming its commitment to women driving Namibia’s transformation.
“Namibia is our home, and we drive her growth,” Amupolo concluded, underscoring the bank’s role in fostering ambition that shapes the nation.
Their ambition shapes our nation. Their progress strengthens our economy. And we stand with them, because Namibia is our home, and we drive her growth.
