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Local business protection will result in economic growth – Team Namibia

2020-01-17  Staff Reporter

Local business protection will result in economic growth – Team Namibia

WINDHOEK - Team Namibia, the member-based organisation has the mandate to contribute towards “Growth at Home” and secure optimal market access for Namibian businesses with the mission to ultimately impact economic sustainability. However, a recessionary environment, a reputation tarnished by corruption scandals, and unreasonable competition from foreign companies in Namibia have a direct impact on doing business and the economic well-being of local companies. The consequence of this is that Namibians must act quickly to bring the Namibian economy on to a path of sustainable growth, in order to eradicate poverty and ensure prosperity for all Namibians.

Team Namibia has, therefore, called for deliberate and explicit regulation that protects Namibian businesses from unfair competition in every sector of the economy. Despite recognising the increasing political desire to liberalise markets in line with aspirations of regional, continental and global economic integration, Team Namibia is of the opinion that liberalising Namibia’s economy at the cost of local businesses does not free Namibian businesses but instead confines the Namibian economy for other nations to keep. 

In a statement released yesterday, Team Namibia remained adamant that trade policy and regulation in all sectors of the Namibian economy must be of such a nature that it supports Namibian businesses. 
“Appropriate and carefully considered industry protection in line with the maturity and strength of the respective industries is needed. This is across the spectrum – e.g. ICT, cement, dairy, poultry, fishing, mining, construction, packaging, clothing and jewellery production and others -  that have to compete with unfair or unreasonable competition from outside, with the consequence that other nations capture the Namibian market,” read the statement. 

Team Namibia’s statement continued that current developments in the fishing sector are of huge detriment to the local industry. The organisation noted that the ‘Fishrot’ scandal and the allocation of right holders and quotas to businesses without adequate infrastructure is unlikely to be encouraging to local businesses that have invested hugely in this sector. 

Team Namibia is also adamant that decisive action must be taken to ensure a conducive environment to conduct business.  Policy, regulatory and legislative aspirations must be clear. Swift action is required to ensure Namibia creates an investor-friendly environment to attract not only domestic but also much needed foreign direct investment. 

Team Namibia, an entity financed by private sector membership fees, is therefore calling on all businesses to join the organisation. This, they said, will not only ensure more resources to more effectively secure market access for businesses by creating requisite awareness, but it will also increase the impact of Team Namibia’s advocacy efforts to secure a better regulatory environment for Namibian businesses. 

Bärbel Kirchner, account director of Team Namibia, said: “Team Namibia is here to fight for Namibian business. We need to ensure that our local businesses have better prospects. We need to have favourable conditions for all our businesses in all sectors of the economy. We need an environment that is conducive to attract investment, whether this is creating a very clear policy environment or preventing corruption… As indeed the current environment affects all businesses in Namibia; we want as many businesses as possible to join Team Namibia and be part of creating economic prosperity for our nation”. 

2020-01-17  Staff Reporter

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