Swakopmund municipality invests in local business

SWAKOPMUND – The Swakopmund Municipality is embarking on a strategy to invest in the local economy by supporting upcoming and existing businesses at the town.

The Urban Trust of Namibia (UTN), a consultancy company, was awarded the tender to carry out a feasibility study to come up with a development strategy for the town. Speaking at a stakeholders’ meeting on Monday, Sam Geiseb from UTN said the Ministry of Trade and Industry mostly drives economic development in the country but some local authorities are not active participants in such development.He said it was only recently that some municipalities saw the need to invest in local development in order to stimulate economic growth in those towns, stressing that the Swakopmund Municipality decided to invest in its residents.He said the municipality wants to involve all stakeholders at the town and get their input in the proposed strategy that will be implemented in four phases over the next two to three months.Geiseb said the first phase would include the establishment of a steering committee, followed by an assessment of the town’s economy before coming up with a strategy, which will have to be approved by the town council prior to its implementation.NampaSpeaking at a stakeholders’ meeting on Monday, Sam Geiseb from UTN said the Ministry of Trade and Industry mostly drives economic development in the country but some local authorities are not active participants in such development.He said it was only recently that some municipalities saw the need to invest in local development in order to stimulate economic growth in those towns, stressing that the Swakopmund Municipality decided to invest in its residents.He said the municipality wants to involve all stakeholders at the town and get their input in the proposed strategy that will be implemented in four phases over the next two to three months.Geiseb said the first phase would include the establishment of a steering committee, followed by an assessment of the town’s economy before coming up with a strategy, which will have to be approved by the town council prior to its implementation.Nampa