THE economic summit slated for this week has received about N$4 million in pledges from local companies, all hopeful that they stand to benefit from the investors-linking event.
The summit, expected to run from 31 July to 1 August 2019, is the first of its kind in the country, where the private sector will hold hands to grow and revive the dead sectors of the economy, with the major aim of creating jobs.
The summit is the brainchild of the high-level panel on the Namibian economy, appointed by president Hage Geingob earlier this year, which includes academics and private sector executives, to assist with the revival of the economy, and raise investments of about N$14 billion in Namibia.
“We had a budget of N$3,5 million for the summit, but have received pledges of about N$4 million,” said chairperson of the panel, Johannes Gawaxab.
He had earlier said unlike other summits the country has held, the upcoming one will link investors to fundable projects, and not just be a pitch night where no investments translate to reality.
Gawaxab said the two-day event will include speakers from Rwanda, government officials at national and regional level, pension funds, investment management companies, and business people from the 14 regions of the country.
Items listed for deliberation include clarifying the government’s position on policy uncertainties, the ease of doing business in Namibia, access to land, impediments to investments, funding models, the future of work, and infrastructural development.
MONEY WITHIN
Public enterprises such as NamPower, Namibia Airports Company, NamWater, the Development Bank of Namibia, Namibian Ports Authority, Namibia Financial Institutions Supervisory Authority and Namibia Wildlife Resorts together pledged over N$800 000.
The mining sector was also represented, with B2Gold Namibia pledging N$200 000, while asset management companies Allan Gray Namibia, Prudential and Namibia Asset Management pledged about N$200 000.
Other pledges were made by Avril Payment Solutions and Old Mutual Namibia with a combined figure of N$260 000.
Making their pledge, Development Bank of Namibia’s executive, Martin Inkumbi, said expected returns from this pledge include shared prosperity and employment, while Powercom’s Alisa Amupolo said once investments come into the country, the end-result will be that the government will also realise a growth of the strained tax revenue.
The summit is not being funded by the central government. More information on the summit and the programme is available on the summit’s website – www.economicsummit.com.na
Email: lazarus@namibian.com.na
Twitter: @Lasarus_A
