ANALYSTS have urged the government and the private sector to collaborate more effectively in order to improve the local business climate, and move out of the current economic slump.
They further stressed that it is imperative for everyone to tweak the way they operate.
The analysts were speaking at the Nedbank Corporate and Investment Banking (CIB) economic summit 2018, held in collaboration with Namibia Equity Brokers and Ernst and Young.
The platform created an opportunity for Namibian business people to network and experience high-quality presentations and a panel discussion with knowledgeable presenters.
This year’s summit unpacked the impact of human psychology on how to do business, and specifically on how to overcome dire situations and economic challenges.
Psychologist Siegfried Lange provided some perspective on the laws or principles of human nature.
He said Namibians typically think things are better outside the country.
Lange asked: “Do your people exist in your business, or does your business exist in your people?”
Dennis Zekveld, the country chairperson of Shell Namibia, extolled the value in diversity and inclusion in organisations under the theme, ‘Leadership has no silver bullet’.
He urged business leaders who attended the gathering to “open up so people feel free to provide feedback”.
He also urged leaders to be careful of driving performance at all cost, as “performance with the wrong behaviour is dangerous.”
Zekveld further encouraged locals to genuinely care about those around them, and lead with courage and humility as well as promote collaborations. He also reminded Namibians that the country is not an island, and that it is in competition with other countries from around the world. He thus cautioned that Namibia should look at the right countries to emulate.
A panel discussion after the presentations investigated ways of growing the country’s economy.
Penda Ithindi, the senior technical economic adviser to finance minister Calle Schlettwein, said Namibia’s economy is not out of the woods yet, but that the numbers show that “we are getting there”.
He predicted that the construction and retail industries will rebound soon, and repeated the often-used line that Namibia is always lauded for good policies, but that implementation falls flat.
Ithindi gave an assurance that the government values partnerships, and that its doors are open for consultations and collaborations. He, however, warned that the private sector was too reliant on government contracts, which was dangerous as “when a downturn hits us, we will all be in the intensive care unit. We need to put resources where it matters the most, and create jobs.”
Ngoni Bopoto, research analyst at Namibia Equity Brokers, pleaded for the strengthening of research.
“It comes down to self-discovery. We do not understand enough of ourselves to be able to chart a sustainable way forward.
We need to rely more on our sources of research rather than foreign consultants. They come here, interview me and a couple of other people, and tell us the way forward”, he stated.
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