Oshakati
President Hage Geingob says the Oshakati Open Market is a step in the right direction in the war against poverty, as it creates employment and empowers people economically.
Speaking at the inauguration at the town on Friday, Geingob said the open market – with its capacity of 500 vendors – is expected to boost the local economy by attracting business people to use the premises to conduct business. “The multi-faceted dimension of our strategy to fight the war on poverty includes catering to those Namibians who form part of the informal economy,” he said.
The N$90 million open market is named after renowned businessman Frans Aupa Indongo, who started his business by selling merchandise from the Oshakati open market.
The area was previously home to 250 residents, who have since been relocated.
Geingob said providing entrepreneurs in the informal economic sector with decent facilities to conduct business is a stepping stone for them to mature into Small and Medium Enterprises (SMEs) and eventually into fully fledged companies.
“Government understands that the informal economy plays a crucial role in the development process of developing countries through the provision of livelihoods for the majority of the people. Through appropriate support, the informal economy can become a gateway towards prosperity for our people,” the president further explained.
President Geingob noted that the Labour Force Survey of 2014 shows that 41.4 percent of the employed population is employed in the informal sector.
In urban areas 59 percent of the employed population is employed in the informal sector.
Out of the 57 288 people employed in Oshana Region 20 796 are employed in the informal sector, representing some 36.3 percent of the total number of people in the region.
Geingob further said government has a bold task to ensure that citizens from disadvantaged backgrounds benefit from the policies of the “Growth at Home” strategy of commodity-based industrialisation, aimed at accelerating economic growth, reducing income inequality and increasing employment.
“We must take cognizance of the fact that we should ensure that our vendors, traders, kapana sellers and other prospective businesspeople are not left behind,” said Geingob.
Frans Aupa Indongo, in a speech read on his behalf by Martin Shipanga, warned the vendors against get-rich-quick schemes and advised against criminal activities at the market.
Indongo also advised the vendors to use the opportunity at the open market as a gateway to successful businesses.
One of the oldest vendors at the market, Martha Elifas, expressed her gratitude to Oshakati Town Council and was hopeful that those vendors who did not yet get places at the open market would also be accommodated and provided with an opportunity to sustain themselves.
The open market was constructed over a period of six years at a cost of some N$90 million.