The Namibia Local Businesses Association (Naloba) has taken a pioneering step in fostering economic resilience and growth by hosting a two-day conference in Windhoek. Taking place under the theme “Revive, Restore and Grow Namibia’s Economy,” the event which ended yesterday was to address pressing issues faced by local businesses and the broader domestic economy.

Trade and industrialisation minister Lucia Iipumbu stressed the importance of the business gathering. Businesses were urged to seize the opportunity and engage in discussions vital for validating and sustaining the nation’s business sector and overall economy.

“This conference holds exceptional relevance in the face of numerous challenges. Namibia grapples with a global economic downturn, a severe drought crisis, and the continuing impact of the global Covid-19 pandemic. Against this backdrop, stakeholders from various sectors are coming together to formulate strategies for economic recovery and resilience,” she stated. 

“I am proud to say our people in business stood tall in the face of adversity, adapting to new challenges and emerging from the crisis with determination and innovation,” said Iipumbu. 

Despite numerous challenges facing the global and regional economies, government has reaffirmed its commitment to delivering socio-economic progress for all Namibians. 

Meabnwhile, Naloba vice president Peter Amadhila said economic emancipation for all is still a goal which all businesses should strive for. He cautioned that until this goal is achieved, the majority of Namibians will “continue to swim in a pool of poverty”.