The Black People Economic Emancipation Association is calling on the Namibian Stock Exchange (NSX), Bank of Namibia(BoN) Ministry of Mines and Energy and the Parliament to nationalise mineral resources in the country.
Today, the BPEEA, led by Namibian Economic Freedom Fighters (NEFF) economic commissar and activist Michael Amushelelo, demonstrated in front of the NSX, BoN, Ministry of Mines, and Parliament.
Amongst their demands the BPEEA demanded urgent action plans and programs which will lead to the transfer of wealth to the ownership and bring it under the control of historically disadvantaged people, the nationalisation of all foreign-owned banks operating in Namibia and the immediate amendment of Article 16 (2) of the Constitution of the Republic of Namibia to make provision for the expropriation of property without compensation.
In their petition BPEEA instructed the NSX to play a role in the transformation and transfer of Namibia’s wealth from the hands of white monopoly capitalists, saying the economic subjugation, oppression and exploitation of the black majority happened under the stewardship of the majority of the listed companies.
They demanded from NXS urgent action plans and programs for all companies listed on the bourse to employ workers directly with living wages and benefits and not through Labour Hire Brokers and that locals be allowed to buy and sell shares directly on the NSX without the need for stockbrokers.
From the BoN the association demanded to stop the economic subjugation and the exploitation of black majority happening under the stewardship and approval of the commercial banks.
“We demand urgently to stop profits from being drained out of Namibia through banks. We demand urgent development and implementation of Corporate Social Investment plans, which will bring about real value and benefit to our communities. We demand a comprehensive financial report for over 100+ foreign loans (debts) accumulated in the last 8 years. We would also like a report on the N$8.1 billion borrowed for Covid-19 and the terms and conditions of that particular loan, “read their petition.
Furthermore, BPEEA noted that Parliament and the Executives carry the power and weight to radically transform society for the better.
They demanded from the parliament that all productive land be nationalized, to grow our food production sector to ensure that as a nation, we become self-sufficient in food production so that no Namibian dies from hunger whilst we have productive land and that all local natural mineral resources be nationalized, especially the mines so that the wealth of our country is shared equally among all Namibians.
“We demand the beneficiation and processing of all our natural mineral resources for the establishment of new industries and employment creation opportunities for Namibians. The beneficiation should happen in the communities where the minerals are found. We demand that all banks and insurance companies must be nationalized, we can no longer allow strategic sectors of our economy to be owned by foreigners, who make huge profits that they take out of
the country. It is for that reason that we seek to nationalize Banks and Insurance companies. We demand increased funding for the Ministry of Youth Sports, Arts and Culture to the tune of N$2 billion and more per annum, the money must be used to fund youth entrepreneurship for the development and creation of employment for our youth, some funds will be used for the building of sports facilities around the country so that our young people are actively involved in productive activities as well as to build a sports economy,” read some of their demands.
The association said that all those petitioned must respond by no later than 22 November this year. Last month, Affirmative Repositioning (AR) activist Dumbulukeni Nauyoma and Amushelelo said the protest would be for economic emancipation of the people, stating that they want the laws and institutions that are a ‘stumbling block’ to Namibia’s national prosperity to be reformed.