Walvis Bay-Hundreds of residents from Kuisebmond and Narraville yesterday morning flocked to the Walvis Bay municipal chambers in Kuisebmond to register for a share of the N$1 million donation made by businessman Knowledge Katti.
Katti availed N$1 million, through his Knowledge Foundation, towards poverty alleviation and economic advancement of vulnerable residents at his home town.
He has in the past also donated N$1 million to Uis residents, paid water and electricity bills for pensioners at the coast as well as donated money to all 14 regional councils in the country.
His foundation furthermore provided bursaries to numerous disadvantaged Namibian students.
Speaking on behalf of the foundation, Charlie David said the money will be managed as a revolving fund to benefit as many people as possible.
“Katti is dedicated to make a meaningful contribution to the growth and development of Walvis Bay, while at the same time reduce poverty and unemployment, but is also encouraging self-sustainability,” David explained.
“We are basically looking at assisting entrepreneurs who have the drive and passion to succeed but do not have the financial backing to do so. At the same time we are also looking at the general social conditions of our people. Katti himself wants all houses, especially those of vulnerable people, to have water in their homes, as this is a basic human right,” he said.
David said the logistics around the distribution of the money will be ironed out this week and allocations done in due course.
According to David, beneficiaries will be required to make some sort of contribution towards the fund at a later stage.
“They are not required to pay back what they have received now, but rather once they have established themselves, so that we can grow the fund,” he said.
Katti in a speech read on his behalf yesterday highlighted that poverty is one of the greatest social challenges Namibians face, adding that although some Namibians enjoy a high quality of life, an unacceptably large number live in deplorable circumstances and thus cannot fully participate in social advancement and economic development.
“Poverty does not only affect the poor, but also reduces public safety and slows economic growth. Thus we need to re-adjust our focus on the poverty reduction initiative as it is a complex issue. I want to pledge my support to the residents of Walvis Bay as part of my contribution as a child of this town,” Katti said.