President Netumbo Nandi-Ndaitwah said that there is no reason why Namibians must be poor.
Namibia’s poverty rate is estimated to be around 17.2% to 26.9%, with varying figures depending on the source and date.
The country’s poverty is largely driven by historical and structural factors, including apartheid-era economic inequality and land dispossessions. Corruption and ineffective government policies have also contributed to the growing income inequality in the country.
The most disadvantaged 20% of the population receives approximated 3% of the total expenditure, while the richest 20% receives more than 70%.
With abundant natural resources, a rich ocean and the just-recently discovered oil, Namibia is considered as a rich country, but a rich country with a poor population.
Nandi-Ndaitwah who was speaking at the official opening of the Ongwediva Annual Trade Fair on 24 August said that with the discovery of oil and gas and other critical minerals, “it is essential that moving forward, these sectors should participate in the Namibian expos or trade fairs for our people to understand different services that are required, to enable Namibians to participate in the oil and gas and critical minerals by providing the necessary services.
“In other words, to ensure the effectiveness of the local content among others.
“Against that background I call on financial institutions, training centres, and innovation hubs to scale up programmes that provide youth with access to finances, mentoring and skills training.
“To ensure that we have the necessary skills in the country to all the industries both traditional and the upcoming such as oil and gas as well as critical minerals being discovered in our country.
“Therefore we must start now to develop the necessary skills for these emerging industries.
“I encourage all participants to use this platform to engage, collaborate and forge partnerships that foster shared prosperity.
“Together we must make Namibia to be the best place for all of us to live in. We are too few to be poor; with hard work and commitment and integrity a share d prosperity is within our reach.”
In the photo: President Netumbo Nandi-Ndaitwah at the Ongwediva Annual Trade Fair. In another image, Nandi-Ndaitwah touring the trade fair with Limpopo Premier Dr Phophi Ramathuba.
