Martin Endjala
Prime Minister Saara Kuugongelwa-Amadhila, has cited the need to promote business activities across the country and nurture local businesses in different parts of the country to position them for growth.
She said that this is the only way to ensure equitable economic growth and development, thereby lauding the notable efforts being made by various regions and local authorities to harness the potential of business expositions to promote local development in their localities.
“The government continues to call on local authorities and public enterprises to leverage innovative funding models to expedite the realisation of agreed public interventions. This becomes more important now given the reduced public revenue which limits the government’s ability to provide financial support to local authorities,” she said.
The Prime Minister said this yesterday at the official opening of the third Tsandi Annual Trade Fair and Expo in the Omusati region, under the theme “Reviving the Local Economy, Cultural Diversity, Tourism and Enhancement for Adequate Service Delivery”.
She stated that local authorities are key stakeholders in national development and that they deliver key services to communities and businesses, and at times, these efforts are constrained by inadequate resources.
The Premier believes that these efforts of investment promotion are commendable, as increased businesses complement the capacities of local authorities to develop their economies and provide employment to their residents.
She, however, cautioned that an increase in the presence of businesses also means an increase in the demand for services, adding that this means requires investments in public infrastructure and the capacities of local authorities.
This in turn necessitates innovative financing and project delivery models to leverage private sector finance and technical capacity to expedite the implementation of urgent strategic initiatives to support the growth of the local economy, create jobs and improve services to the residents.
Moreover, she pointed out that alternative funding models such as the Public Private Partnership also provide an opportunity to benefit from the expertise of the private sector to improve public programme implementation.
She highlighted the African Continental Free Trade Agreement as another tool local businesses can use to their advantage to market within the African continent.
Lamenting that, for this to happen, Namibia should enhance the competencies and skills of officials, and improve public systems to be responsive to the needs of the customers.
To ensure that the country is placed as a preferred investment destination and support the competitiveness of its businesses, thus optimising benefits from the African Free Trade Agreement and other trade agreements that Namibia has concluded as an effort to promote increased trade.
She encourages Namibian businesses to continue to explore business opportunities in the country, asserting that there is an abundance of opportunities that await to be tapped, especially in the upcoming towns and rural areas, which have not been sufficiently explored.
