Public and private sectors must jointly plan country’s economy, says Pohamba

THE Minister of Lands, Resettlement and Rehabilitation Hifikepunye Pohamba has said much was expected from both the Government and the private sector for the country’s economic growth.

Pohamba who is the Swapo candidate for the forthcoming presidential election also said that in this regard, local businesses could not afford to be complacent but should think strategically for economic development and success. Addressing captains of industry at a luncheon organised by PriceWaterhouseCoopers in Windhoek recently, Pohamba said both the public and private sector should strive for innovation, deliver optimum value and choice to consumers, and also find ways of creating economic opportunities.”Corporate leaders need to ensure competitiveness and productivity in this challenging economy.They have to create stakeholder values by improving profit margin, reducing the cost of capital, choosing appropriate capital structure and implementing strategies.”Business leaders need to have proactive responses to these strategic issues and key challenges to stay ahead of competition,” he said.Pohamba highlighted that Namibia was a late-comer in development and that it was necessary for the public and private sectors to engage frequently on discussions focussing on challenges facing the country’s economic growth.He added that the Government was creating favourable conditions for investment for both local and foreign investors.Success said Pohamba depended on business ethics, good governance and strategic planning.He said business practices should promote clarity, accountability and consistency adding that the Government was also promoting Black Economic Empowerment as an integral part of the country’s transformation process in the redistribution of wealth and opportunities.Many economic concerns and challenges are being experienced and many more still lie ahead.”We must explore ways in which the Government and the private sector can develop new but mutual competitive advantages by bringing together dispersed knowledge and capabilities to be ahead of economic competitors,” said Pohamba.Addressing captains of industry at a luncheon organised by PriceWaterhouseCoopers in Windhoek recently, Pohamba said both the public and private sector should strive for innovation, deliver optimum value and choice to consumers, and also find ways of creating economic opportunities.”Corporate leaders need to ensure competitiveness and productivity in this challenging economy.They have to create stakeholder values by improving profit margin, reducing the cost of capital, choosing appropriate capital structure and implementing strategies.”Business leaders need to have proactive responses to these strategic issues and key challenges to stay ahead of competition,” he said.Pohamba highlighted that Namibia was a late-comer in development and that it was necessary for the public and private sectors to engage frequently on discussions focussing on challenges facing the country’s economic growth.He added that the Government was creating favourable conditions for investment for both local and foreign investors.Success said Pohamba depended on business ethics, good governance and strategic planning.He said business practices should promote clarity, accountability and consistency adding that the Government was also promoting Black Economic Empowerment as an integral part of the country’s transformation process in the redistribution of wealth and opportunities.Many economic concerns and challenges are being experienced and many more still lie ahead.”We must explore ways in which the Government and the private sector can develop new but mutual competitive advantages by bringing together dispersed knowledge and capabilities to be ahead of economic competitors,” said Pohamba.