Finance minister Ericah Shafudah has lauded the private sector as the “engine of job creation” and called for continued collaboration to strengthen fiscal performance as well as reform procurement and tax frameworks. The minister was speaking at a mid-term Economic Breakfast Budget Review last week, hosted by FirstRand Namibia.

The event brought together leaders from the public and private sectors to unpack key insights and implications of the 2025 National Budget.

“A robust domestic capital market is crucial for sustainable development financing,” said Shafudah while thanking the banking sector for its partnership in redeeming Namibia’s Eurobond, a move that demonstrated the country’s financial strength and responsibility.

The budget breakfast, held at the FNB Namibia Parkside Head Office, provided an engaging platform for economic dialogue and analysis, featuring a lineup of distinguished speakers and experts. The FirstRand Namibia Mid-Term Economic Breakfast brought together industry leaders to chart a course for sustainable growth amid global uncertainty. The event also underscored the urgency of bold fiscal reforms, debt management, and infrastructure investment as catalysts for long-term stability. It reaffirmed Namibia’s resilience and FirstRand’s commitment to innovation, transparency, and collaborative leadership.

Delivering the welcoming remarks, FirstRand Namibia Group Chief Executive Officer Conrad Dempsey, highlighted the importance of continuous and open dialogue around Namibia’s economic direction. Reflecting on the current national conversation, Dempsey commended President Netumbo Nandi-Ndaitwah’s leadership style, noting her openness to dialogue and willingness to engage directly with citizens at the Namibia Public Private Forum set an example for all.
“Her Excellency is an exemplary reminder of the importance of accessibility and conversation in leadership. I see today’s discussion around national budgets, where we are spending, collecting, and how we are all contributing, as a continuation of that dialogue and an opportunity to have real conversations about taking the country forward,” said Dempsey.

After the keynote, Shafudah joined a panel discussion with prominent thought leaders, including Cheryl Emvula (FirstRand Namibia Group Economist), Sam Shivute (Commissioner of the Namibia Revenue Agency), Abigail Nainda (Deputy Director of Policy Research and Analysis at the Bank of Namibia) and Gerda Brand (Tax Specialist from Deloitte).

The discussion explored the broader implications of the budget for businesses, investors, and the Namibian public, under the theme of ‘Revenue Realities and Tax Transitions’.

The event concluded with an interactive Q&A session, offering attendees the opportunity to engage directly with the panelists and gain a deeper insight into the country’s economic trajectory.