National Council calls for proper domestic financial stock

Stefanus Nashama The Rehoboth Urban Constituency Regional Councillor, Harald Kambrude noted that Namibia can move away from the South African Rand and minimize international debts by building proper financial stocks. The Councillor made these remarks yesterday while contributing to the Second Reading of the Banking Institution Bill in the National Council. Financial stocks are a type of security that gives stockholders a share of ownership in a company. Kambrude argued that Namibia is still piggybacking on the South African financial system which he says is making the country too vulnerable. He called on the country to localize the financial system…