Staff Writer
Finance Minister Ericah Shafudah described the private sector as the engine of job creation and called for stronger collaboration to improve fiscal performance and reform procurement and tax systems.
“A robust domestic capital market is crucial for sustainable development financing,” she said, thanking the banking sector for its role in redeeming Namibia’s Eurobond, which she said showed the country’s financial strength and responsibility.
Shafudah made the remarks during the recent FirstRand Namibia mid-term economic breakfast budget review held at the FNB Namibia Parkside Head Office. The event brought together leaders from government and business to discuss the key highlights of the 2025 National Budget.
FirstRand Namibia Group chief executive officer Conrad Dempsey, in his welcoming remarks, highlighted the importance of continuous dialogue on Namibia’s economic direction. He commended President Netumbo Nandi-Ndaitwah’s leadership, noting her openness to engage directly with citizens at the Namibia Public Private Forum.
“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,” Dempsey said.
The panel discussion featured Shafudah, Cheryl Emvula from FirstRand Namibia, Namibia Revenue Agency (NamRA) commissioner Sam Shivute, Bank of Namibia’s Abigail Nainda and Deloitte tax specialist Gerda Brand.
They discussed the budget’s impact on businesses, investors, and the public under the theme of revenue realities and tax transitions.
The event ended with an interactive Q&A session that allowed participants to engage with the panellists and gain insight into Namibia’s economic outlook. It also emphasised the need for fiscal reforms, effective debt management, and infrastructure investment to support long-term growth and stability, while reaffirming FirstRand’s commitment to transparency and collaboration.
Caption
Ericah Shafudah
- Photo: Contributed
