Mungunda reiterates hard work and ethical leadership as success factors for entrepreneurs
A more entrenched culture of entrepreneurship in Namibia will lead to a boost in economic growth. This is the view of Junius Mungunda, Chief Executive of Standard Bank Namibia.
“However, as a country, we should aim to promote entrepreneurs whose agenda is built on good character and values such as integrity, respect, fairness, harmony and hard work. In the absence of these good values, any entrepreneurs we are hoping to build will not be sustainable,” said Mungunda in his keynote address at the recently held Ongwediva Trade Fair Fundraising Gala Dinner.
“Ethical leadership in business, government and society at large will always result in a fair and efficient allocation of resources, which will ensure more resources will be at the disposal of citizens, businesses and government to propel faster economic growth and prosperity for all,” said Mungunda.
According to him Namibia will be successful if, at individual level, each one of its citizens work as hard as possible. “At a macro-level, there is a continual need for us, as a country, to focus on increasing the competitiveness and productivity of our economy,” said Mungunda. He said that it is important the country, at systemic level, find mechanisms to drive innovation; productivity measurements and targeting; transfer of skills; a drive for efficiencies and enterprise development.
“There is a responsibility on all of us, as business and political leaders in the country, to identify, nurture and develop talent in our young people,” emphasises Mungunda. Moreover, there is a need to understand the critical skills required for business and formulate an appropriate plan to nurture and obtain those scarce skills. Mungunda said that importing these critical skills is not a sustainable solution.
Standard Bank pledged N$120 000 to the 2014 Ongwediva Trade Fair. In addition, the bank has invested a lump sum of N$2 million in constructing a state-of-the-art entrance gate for the trade fair. The Standard Bank Namibia entrance gate will be officially opened on 22 August 2014.