Namibia should not be experimenting at 35 years -Salomo Hei 

By: Hertha Ekandjo

Managing Director of High Economic Intelligence, Salomo Hei, has stressed the need for Namibia’s economic transformation, emphasizing that the country should not be ‘experimenting at 35 years’ but rather have a clear understanding on the way forward.

In a recent discussion, Hei emphasized the need for clear, long-term policies rather than relying solely on the national budget to drive economic change.

“We should not use the budget as a single tool for transforming the Namibian economy. We need policy clarity for true transformation,” said Hei, acknowledging that while the budget is a crucial tool, it alone will not lead to the comprehensive change the country requires.

Hei pointed to the example of Bank Windhoek, noting that it has played a significant role in the transformation of Namibia’s economy as a Namibian-owned bank, highlighting the importance of local ownership in driving sustainable economic change.

Turning to the oil and gas sector, Hei emphasized that Namibia needs to be clear about the role it will play in this critical industry.

He called for clarity on how much of the sector will remain in the hands of Namibians in terms of ownership and how it will contribute to the country’s transformation.

He also raised concerns about the country’s budgetary constraints but stressed that the budget is only one of many tools available for economic transformation.

“If there is a transition mechanism, how long does it take for a policy to make an impact?” he questioned, underscoring the importance of long-term planning and clear policy frameworks.

Hei further noted that although the current three-year budget is constrained, infrastructure investment remains crucial.

He warned that neglecting to invest in necessary infrastructure could cause significant problems in the future, but emphasized that these investments must be strategic.

An example he highlighted was investing in towns like Grootfontein to develop them into dry-ports, a move that would decentralize services, stimulate local economies, and prevent excessive migration to urban centers.

“Investing in needed infrastructure will drive economic growth and reduce pressures on urban areas,” Hei said, urging more direct interventions in sectors that require immediate attention.

He cited healthcare as an area where inadequate allocation of funds has led to disappointing outcomes, pointing out issues like the procurement of medication and the lack of ambulances in public hospitals.

Hei also raised questions about the government’s priorities, noting that tourism should be an integral part of the country’s focus.

He questioned why tourism has not been included in the government’s new priorities, advocating for a more strategic and thoughtful approach to policy planning.

While acknowledging the importance of sports as an investment, Hei raised concerns about whether the N$ 6.9 billion allocated to sports is the most efficient use of funds, suggesting that it is a long-overdue investment but may not be the most urgent priority.

When it comes to healthcare, Hei argued that simply increasing funding is not enough. “Throwing money at the problem is not the solution,” he said. “We need tangible plans to address Namibia’s healthcare issues and achieve real results.”

Lastly, Hei emphasized the need for sustainable jobs and affordable housing for Namibians.

“Every dollar should provide an outcome,” he said, urging that resources be directed towards initiatives that create meaningful, lasting jobs and provide affordable housing for the population.

The post Namibia should not be experimenting at 35 years -Salomo Hei  first appeared on Future Media News.

The post Namibia should not be experimenting at 35 years -Salomo Hei  appeared first on Future Media News.