Namibian government amends regulations to give entrepreneurs access to venture capital

THE Namibian Government is injecting huge stimulus into the Namibian economy in order to accelerate the growth of local enterprises. The recent promulgation of the amended Regulation 28 and 29 of the Pension Funds Act has the potential to unlock capital and channel its flow towards entrepreneurial businesses.Amended Regulation 28, which limits the extent to which retirement funds can invest in specific asset categories, stipulates that of the 35% compulsory investment in Namibian assets, the exposure in dual listed shares is required to reduce to 10% over the next 4 years. Amended Regulation 29 requires Pension and Provident Funds to invest a minimum of 1,75% of total assets under management in unlisted investments by 2017. This could lead to a massive boost for entrepreneurship in Namibia, as the availability of capital for private enterprises will surge and the Namibian Stock Exchange could see a gradual increase in listing activity of local companies.Nothing ventured, nothing gained

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