The event was organised by the Namibia Chamber of Commerce and Industry in recognition of Nujoma's "tremendous sacrifices, long service and the promotion of smart partnership and co-operation with the private sector over the past 14 years".

The Sam Nujoma Foundation's objectives include fostering a sense of common purpose and collective destiny among Namibians, identifying children with exceptional needs and those affected by HIV-AIDS and soliciting support for them, and promoting arts and culture.

Pledges and donations announced at the event amounted to more than N$600 000.

Namangol Investments, an asset management company, donated N$310 000, while PriceWaterhouseCoopers donated N$200 000 and pledged a scholarship fund for orphans.

Diamond giant Namdeb donated N$100 000, First National Bank N$85 000, NamPower N$70 000 and Telecom Namibia pledged N$60 000.

President Nujoma said he had been considering the idea of the foundation for a long time.

"We (Govt) have promoted an environment where Government and civil society are partners in responding to wide-ranging human needs and development in the country.

"It is in response to the needs of our people that over the past years, I have conceptualised the formation of a national trust through which I and other citizens will contribute to the welfare of our citizens, particularly after I leave office as President of the Republic of Namibia."

The building of a centre that will house the foundation is expected to start soon on a piece of land donated by the Windhoek Municipality along Hosea Kutako Avenue.

The centre will have a library, recreation centre, sports field and swimming pool, among other features.

Members of the Sam Nujoma Foundation board of trustees are Prime Minister Theo-Ben Gurirab, Deputy Prime Minister Hendrik Witbooi, Minister of Higher Education Nahas Angula, Attorney General Pendukeni Iivula-Ithana, Minister of Justice Albert Kawana, Minister of Defence Erkki Nghimtina and Febronia Nelago Shapaka.

NCCI president Inge Zaamwani commended Nujoma's efforts to create an enabling environment for local and foreign investment, in turn contributing to the country's economy.

She said, however, that the country still had a long way to go to achieve the goals of Vision 2030, pointing out that a Gross Domestic Product growth of four per cent a year was far short of the desired 12 per cent growth needed to attract more investors.

The dinner was also attended by President-elect Hifikepunye Pohamba, who takes over the reins next month, and Prime Minister Theo-Ben Gurirab.

More than 700 people from the public and private sectors attended the NCCI-hosted dinner.

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