September 23, 2021

Namibia: Covid-19 Demands Opportunities for New Business Ideas – PM

Prime Minister Saara Kuugongelwa-Amadhila said the outbreak of Covid-19 has come as an opportunity for businesses in the country to come up with new ideas.

The PM said this is despite the negative impact the pandemic had on the domestic, regional and global economies.

Kuugongelwa-Amadhila said in efforts to revive the economy, part of the government response package aims to encourage the private sector to come on board and support the recovery process.

She stated that Namibia experienced a drastic shortage of some important basic products during the state of emergency – either due to restrictions of movement in countries where some of these goods are sourced or because of a shortage of supply in those countries.

She noted this effect exposed the vulnerability of the domestic economy to imports and said she hopes this has highlighted the areas where opportunities exist for Namibian businesses to invest in the local products scheme to produce, using finance facilities availed through the Development Bank of Namibia (DBN).

She also encouraged local manufacturers to take advantage of the preferential local sourcing arrangement under the Government’s Public Procurement Act.

The PM further noted that government provided specific support, specifically through the Social Security Commission, to businesses to help them cope with the impact of Covid-19.

However, she added that some of the businesses and individuals could not benefit from the programme because they were not registered with the Commission.