Martin Endjala
Namibia Revenue Agency (NamRA) Commissioner Sam Shivute, said that the late President Hage Geingob has left the state account in a positive position with billions of dollars, compared to how he found it.
Shivute who this week paid tribute to the statesman, said there was a time in the past when the State account used to be in overdraft, but now with improved revenue collection and a call for prudent spending, the situation has improved a lot.
“President Geingob was faced with the difficult task of improving the fiscal position through fiscal consolidation by cutting unnecessary spending, however, without constraining government expenditure to the extent that it impacts the poor and the economy in a negative manner in the short term.
Between 2015, and now, Namibia is now in a better fiscal position trajectory. This is also attested by the private sector. Cirrus Capital Economic Outlook for 2024 attest to the improved fiscal position for Namibia,” Shivute said.
In highlighting some of the challenges Geingob had to face, Shivute stated that the statesman took over the leadership of the affairs of the government at a time when the country was faced with serious economic headwinds.
He said the Gross Domestic Product (GDP) stood at N$146 billion as of December 2015, reaching a low of N$133 billion at the height of the COVID-19 pandemic as of December 2020.
At the end of December 2022, GDP was recorded at N$144 billion, a number that has exceeded the pre-COVID-19 pandemic GDP. This is largely because of the strong growth of 6.5 percent recorded in 2022. The GDP is estimated to have grown by over five percent in 2023.
Shivute noted that the recorded growth rates are, amongst others, explained by good commodity prices and contributions from the mineral exploration sectors.
Additionally, he said the late President has left Namibians with a very strong legacy of functional and autonomous institutions. A legacy that doesn’t only serve Namibia today, but a legacy if preserved and respected will serve the country for generations to come. Subsequently, he said Geingob’s legacy would not only be remembered by Namibians and the role he played in leading the Namibian economy back to the path of prosperity during his Presidency.
He will also be remembered regionally and internationally through his many roles in positioning Namibia first as a preferred destination for green investments, oil and gas exploration Direct Foreign Investments (FDIs) through dialogues at Davos, and CoP28, amongst others.
Moreover, as equally important also as a Statesman who contributed to important world discourse at the United Nations and other relevant platforms for the betterment of the World.
“He positively touched the lives of many people in various ways. I am fortunate to be one of those many people whose lives have been touched by his divine hand. I thank God for the life of President Geingob. We have lost a Global leader of note. A unique leader with a golden heart. His life and legacy will live in our hearts forever. As I sign off, always remember the three words: Courage. Strength. And Patriotism,” said an emotional Shivute.
