Progress on economic equity slow, says PM
Progress on economic equity slow, says PM

Progress on economic equity slow, says PM

NAMPA
Only 29% of top management positions in Namibia’s private enterprises are occupied by previously disadvantaged persons as of 2016, Prime Minister Saara Kuugongelwa-Amadhila said Friday night.

Speaking at a gala dinner held by the Namibia Chamber of Commerce and Industry (NCCI), Kuugongelwa-Amadhila said despite progress made in reducing income inequalities on a macro-level, various disparities still remain.

“Unfortunately the progress in achieving economic equity in Namibia is slow,” she said.

Apart from the highly skewed occupational distribution between the previously advantaged and disadvantaged, the numbers remained stagnant and in some cases had even regressed, Kuugongelwa-Amadhila said.

“It is therefore important that we act to ensure that the affirmative action measures yield the desired outcomes,” she said.

Kuugongelwa-Amdhila said the Affirmative Action (Employment) Act, Act 29 of 1998, was created to achieve equal opportunity in employment and to eliminate employment barriers that have kept some members of the society out of a job. It merely seeks to ensure progress towards a more diverse and representative workforce that is reflective of the demographics of Namibia at all occupational levels, she said.

NEEEF

On the New Equitable Economic Empowerment Framework (NEEEF), the Prime Minister told guests that her office had reviewed the input from the public. She is currently busy preparing a submission to Cabinet to seek guidance on the way forward.

“Naturally there will be room for further public consultations and as we have indicated in the past we can make adjustments where we are convinced that this adjustment can add value. But we would stick to the position that there would have to be a transformation of the economy.”

On his part, guest speaker from Kenya, Professor Patrick Lumumba warned that although the empowerment and equity bill would be a good thing, it might create opportunities only for tenderpreneurs, if not supervised properly.

“You must do it in such a manner that it addresses the historically disadvantaged people whether they are black, women or persons with disabilities so that it can change the circumstances of Namibia,” Lumumba said. - Nampa

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Premier League: Manchester United 3 vs 2 Newcastle | Brighton 1 vs 2 Chelsea LaLiga: Real Sociedad 1 vs 0 Valencia | Almería 0 vs 2 Barcelona | Las Palmas 2 vs 2 Real Betis | Celta Vigo 2 vs 1 Athletic Club | Getafe 0 vs 3 Atletico Madrid | Sevilla 0 vs 1 Cadiz | Rayo Vallecano 2 vs 1 Granada SerieA: Fiorentina 2 vs 2 Napoli European Championships Qualifying: Southampton 3 vs 1 West Bromwich Albion | Leeds United 4 vs 0 Norwich City English Championship: Southampton 3 vs 1 West Bromwich Albion | Leeds United 4 vs 0 Norwich City Katima Mulilo: 10° | 31° Rundu: 10° | 30° Eenhana: 12° | 31° Oshakati: 13° | 31° Ruacana: 12° | 31° Tsumeb: 14° | 29° Otjiwarongo: 12° | 27° Omaruru: 13° | 30° Windhoek: 12° | 27° Gobabis: 13° | 27° Henties Bay: 19° | 33° Wind speed: 41km/h, Wind direction: NE, Low tide: 06:32, High tide: 12:50, Low Tide: 18:28, High tide: 00:56 Swakopmund: 20° | 23° Wind speed: 30km/h, Wind direction: SE, Low tide: 06:30, High tide: 12:48, Low Tide: 18:26, High tide: 00:54 Walvis Bay: 22° | 32° Wind speed: 30km/h, Wind direction: SE, Low tide: 06:30, High tide: 12:47, Low Tide: 18:26, High tide: 00:53 Rehoboth: 12° | 27° Mariental: 16° | 29° Keetmanshoop: 17° | 29° Aranos: 16° | 29° Lüderitz: 19° | 35° Ariamsvlei: 16° | 31° Oranjemund: 14° | 31° Luanda: 24° | 28° Gaborone: 13° | 27° Lubumbashi: 11° | 27° Mbabane: 11° | 23° Maseru: 8° | 23° Antananarivo: 14° | 24° Lilongwe: 15° | 26° Maputo: 19° | 26° Windhoek: 12° | 27° Cape Town: 15° | 20° Durban: 16° | 24° Johannesburg: 15° | 24° Dar es Salaam: 24° | 32° Lusaka: 15° | 26° Harare: 12° | 26° Currency: GBP to NAD 23.01 | EUR to NAD 19.73 | CNY to NAD 2.51 | USD to NAD 18.15 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.7 | ZWL to NAD 0.04 | BRL to NAD 3.55 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.35 | USD to AOA 847.42 | USD to BWP 13.49 | USD to EGP 46.86 | USD to KES 130.48 | USD to NGN 1467 | USD to ZAR 18.15 | USD to ZMW 25.45 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 79530.63 Up +0.03% | Namibian Stock Exchange (NSX) Overall Index 1754.58 Up +0.81% | Casablanca Stock Exchange (CSE) MASI 13426.13 Up +0.11% | Egyptian Exchange (EGX) 30 Index 26142.84 Up +3.27% | Botswana Stock Exchange (BSE) DCI 9151.06 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 414.72/OZ UP +1.55% | Copper US$ 5.04/lb UP +4.12% | Zinc US$ 3 059.30/T UP 0.11% | Brent Crude Oil US$ 84.28/BBP UP +0.60% | Platinum US$ 1 084.88/OZ UP +2.19% Sport results: Premier League: Manchester United 3 vs 2 Newcastle | Brighton 1 vs 2 Chelsea LaLiga: Real Sociedad 1 vs 0 Valencia | Almería 0 vs 2 Barcelona | Las Palmas 2 vs 2 Real Betis | Celta Vigo 2 vs 1 Athletic Club | Getafe 0 vs 3 Atletico Madrid | Sevilla 0 vs 1 Cadiz | Rayo Vallecano 2 vs 1 Granada SerieA: Fiorentina 2 vs 2 Napoli European Championships Qualifying: Southampton 3 vs 1 West Bromwich Albion | Leeds United 4 vs 0 Norwich City English Championship: Southampton 3 vs 1 West Bromwich Albion | Leeds United 4 vs 0 Norwich City Weather: Katima Mulilo: 10° | 31° Rundu: 10° | 30° Eenhana: 12° | 31° Oshakati: 13° | 31° Ruacana: 12° | 31° Tsumeb: 14° | 29° Otjiwarongo: 12° | 27° Omaruru: 13° | 30° Windhoek: 12° | 27° Gobabis: 13° | 27° Henties Bay: 19° | 33° Wind speed: 41km/h, Wind direction: NE, Low tide: 06:32, High tide: 12:50, Low Tide: 18:28, High tide: 00:56 Swakopmund: 20° | 23° Wind speed: 30km/h, Wind direction: SE, Low tide: 06:30, High tide: 12:48, Low Tide: 18:26, High tide: 00:54 Walvis Bay: 22° | 32° Wind speed: 30km/h, Wind direction: SE, Low tide: 06:30, High tide: 12:47, Low Tide: 18:26, High tide: 00:53 Rehoboth: 12° | 27° Mariental: 16° | 29° Keetmanshoop: 17° | 29° Aranos: 16° | 29° Lüderitz: 19° | 35° Ariamsvlei: 16° | 31° Oranjemund: 14° | 31° Luanda: 24° | 28° Gaborone: 13° | 27° Lubumbashi: 11° | 27° Mbabane: 11° | 23° Maseru: 8° | 23° Antananarivo: 14° | 24° Lilongwe: 15° | 26° Maputo: 19° | 26° Windhoek: 12° | 27° Cape Town: 15° | 20° Durban: 16° | 24° Johannesburg: 15° | 24° Dar es Salaam: 24° | 32° Lusaka: 15° | 26° Harare: 12° | 26° Economic Indicators: Currency: GBP to NAD 23.01 | EUR to NAD 19.73 | CNY to NAD 2.51 | USD to NAD 18.15 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.7 | ZWL to NAD 0.04 | BRL to NAD 3.55 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.35 | USD to AOA 847.42 | USD to BWP 13.49 | USD to EGP 46.86 | USD to KES 130.48 | USD to NGN 1467 | USD to ZAR 18.15 | USD to ZMW 25.45 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 79530.63 Up +0.03% | Namibian Stock Exchange (NSX) Overall Index 1754.58 Up +0.81% | Casablanca Stock Exchange (CSE) MASI 13426.13 Up +0.11% | Egyptian Exchange (EGX) 30 Index 26142.84 Up +3.27% | Botswana Stock Exchange (BSE) DCI 9151.06 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 414.72/OZ UP +1.55% | Copper US$ 5.04/lb UP +4.12% | Zinc US$ 3 059.30/T UP 0.11% | Brent Crude Oil US$ 84.28/BBP UP +0.60% | Platinum US$ 1 084.88/OZ UP +2.19%