NEEEF must transform economy: NCCI

13 Aug 2016 10:40am
WINDHOEK, 13 AUG (NAMPA) - The National Equitable Economic Empowerment Framework (NEEEF) should bring transformation and restructuring in the economy to ensure that the majority of Namibians participate in it.
Re-elected president of the Namibia Chamber of Commerce and Industry (NCCI) Sven Thieme made the remark during the annual general meeting (AGM) of the chamber on Friday.
“We made substantial inputs into the NEEEF discussions and we will continue to do so. The NCCI wholeheartedly share the concern about racial economic inequalities in our society and we totally disapprove it.
“We have maintained our position, which we made clear in previous years, that we need effective policies and legislations that can correct the economic and social imbalances of the past, which were created by the apartheid colonial administration in this country,” he stressed.
The NEEEF Bill 2015 consists of policies designed to restructure the private business sector to achieve equity in the economic ownership of productive assets, while creating employment. It would also require a change in policies for the allocation of the rights of exploration of natural resources, and the value addition thereto, to optimise benefits to Namibia through job creation, improved export earnings and technology development, amongst others.
The NCCI has additional proposals that it would like to see included in the final version of the Bill.
Above all, NEEEF should be a future that creates decent jobs, opportunity for education for young people and which do not create a mentality of entitlement, according to Thieme.
“The NCCI will continue to engage our Government to craft a legislation that will ensure that we avoid mistakes made in similar schemes elsewhere while capitalising on the massive opportunities which we have in this country.
“We have so much potential to build a very strong economy in this country if we keep our eyes and attention on creating a competitive environment for our businesses,” he added.
Meanwhile, Thieme was re-elected as president and Saara Naanda as the deputy president of the NCCI.