Niël Terblanché
Nedbank Namibia played host to the business community of Swakopmund and Walvis Bay where it facilitated a crucial discussion on the implications of the recently tabled 2024/2025 national budget.
This forum provided an essential platform for dissecting the budget’s impact on the socio-economic landscape of Namibia.
The event was marked by the insightful opening remarks of Nedbank Namibia’s Managing Director, Martha Murorua, who emphasized the bank’s dedication to aligning its operations with the national budget’s socio-economic objectives.
Murorua stressed the transformative potential of every dollar lent, highlighting the bank’s collaborative approach with clients to identify and seize commercial opportunities that address the socio-economic challenges facing Namibia.
Oscar Capelao, Deputy Executive Director of the Ministry of Finance and Public Enterprises, provided an in-depth analysis of the national budget’s tax proposals.
Capelao assured participants that the budget maintains a consistent policy stance, avoiding new tax proposals that could hinder the country’s economic recovery or growth prospects.
He elaborated on the continued efforts to offer tax relief, broaden the tax base, and enhance the competitiveness of the tax system to foster investment and private sector development.
Salomo Hei from High Economic Intelligence Namibia contributed a presentation on Namibia’s economic landscape, where he urged for the prioritisation of digitalization and green investment.
Hei’s recommendations aimed at boosting productivity growth through digital initiatives and enhancing energy resilience through investments in renewable resources, backed by supportive legislation.
The event also featured a dynamic panel discussion moderated by Elizabeth Manasse, Managing Partner of Sequoia Tax and Legal Advisory.
The panel included key figures such as Oscar Capelao, PwC Namibia Country Senior Partner Chantell Husselmann, Salomo Hei, Bank of Namibia Technical Expert Dr Bernie Zaaruka, and Executive Director of the Ministry of Education, Arts and Culture, Sanet Steenkamp.
This discussion ventured into diverse topics, offering a platform for panellists to share their insights on the national budget’s impact.
A significant takeaway emerged from Sanet Steenkamp, who stressed the crucial need for foundational investment in education and the development of targeted intervention strategies.
The Nedbank Namibia-hosted dialogue served to develop a deeper understanding of the national budget’s implications for Namibia’s economic and socio-cultural fabric.
Through presentations and discussions, stakeholders from various economic sectors were offered a comprehensive overview of strategic priorities, including economic recovery, digital transformation, and sustainability.
The main takeaway of the event was that a concerted collective effort is required to navigate the challenges and opportunities presented by the national budget, with a concerted focus on education, economic resilience, and inclusive growth.
