Staff Writer
The creation of 500 000 jobs remains one of Namibia’s biggest challenges as the country struggles to turn economic growth into meaningful employment.
Speaking at the inaugural Namibia Public-Private Forum (NAMPPF) recently held in Windhoek, Bank of Namibia (BoN) governor Johannes !Gawaxab said that while the economy has grown over the years, this growth has not translated into job creation.
He was addressing a high-level panel discussion titled “From Vision to Action: Delivering on Namibia’s Jobs Agenda.”
“The central question before us is how Namibia will deliver on the audacious but necessary target of creating 500 000 quality championed by our President and sustainable jobs in the next five years. This goal is an economic necessity and a societal responsibility. Fortunately, our nation’s enduring macroeconomic and political stability provides a critical foundation upon which this transformative agenda can be achieved,” he said.
!Gawaxab pointed out that productivity gaps, skills mismatches, and limited value addition have restricted job-rich growth.
He stressed the need to turn macroeconomic stability, characterised by stable prices and sound governance, into broad-based opportunities by investing in productive sectors that drive real GDP growth and labour demand.
He outlined four key enablers to support this transformation.
These include investment in job-rich sectors linked to regional and global value chains, stronger business and consumer confidence to boost private investment, a smart regulatory environment that supports innovation and competitiveness and the adoption of digital technologies to position Namibia for modern economic participation.
On improving regulation, !Gawaxab said the newly launched Namibia Regulators Forum, a body of 10 regulators and observers, including the Bank of Namibia, will promote a coordinated and innovation-friendly environment across sectors.
The two-day forum, officiated by President Netumbo Nandi-Ndaitwah, aimed to strengthen collaboration between the public and private sectors to drive inclusive economic growth and employment.
It served as a platform for stakeholders to discuss barriers to job creation and propose actionable ways to generate sustainable and high-quality employment.
BoN said its participation and support for the forum reaffirmed its commitment to promoting dialogue that fosters a resilient and opportunity-driven economy for all Namibians.
Caption
President Netumbo Nandi-Ndaitwah with some of the speakers during the inaugural Namibia Public-Private Forum held in Windhoek last week.
- Photo: Bank of Namibia
