Geingob opens trade fair

THE Ongwediva Trade Fair, in addition to bringing buyers and sellers together, is the barometer of economic activity in the region, said Trade and Industry Minister Hage Geingob when he opened the fair yesterday.

Geingob said the fair gives Government a glimpse into what it is doing right, what should be improved and what it needs to do to increase trade, manufacturing and therefore jobs. “As the Minister of Trade and Industry, these issues are important for me,” Geingob said.This year’s fair attracted 486 exhibitors, including some from Botswana, China, Ghana, India, Indonesia, Japan, Kenya, Nigeria, South Africa, Tanzania and Zimbabwe.Geingob said Namibia was facing unusual economic challenges, with business competitiveness being eroded by many factors, including supply-side constraints, limited production incentives and the energy crisis, which was affecting all industries and leading to higher prices of goods and services.The resulting inflation could spark an economic downturn, the Minister said, but Government was taking the necessary fiscal, monetary and policy initiatives to address the problem.Geingob said his Ministry had rolled out some supportive programmes for the business sector.It was working closely with the regional authorities to boost business activities in as many parts of the country as possible.Geingob said the SME sector was the greatest direct beneficiary of these programmes, because it was the backbone of developing economies such as Namibia’s.The Ministry of Trade has constructed four industrial parks across the country, four slaughterhouses and 25 SME business parks totalling N$183 million, he pointed out.According to him, these industrial parks have translated into 500 business enterprises, employing 3 500 people in permanent jobs, while over 7 000 temporary jobs were also created during the construction phase.Sixty per cent of the entrepreneurs occupying these parks were women involved in light manufacturing, general trading and services.The Okalongo Business Park in the Omusati Region is about to be completed.The Ministry has also started with an industrial park at Okongo in the Ohangwena Region and will start with one in the Kapako Constituency of the Kavango Region.Feasibility studies have been completed for industrial parks at Namacoro, Ruacana, Karasburg, Outjo and Omaruru, Geingob said.”Entrepreneurs in the Industrial Parks as well as those operating outside these zones have an additional benefit of participating in the Ministry’s Group Purchasing Scheme, which enables SMEs to buy in bulk which is competitive for procurement of industrial equipment and inputs,” he said.He added that under the Ministry’s Small Business Credit Guarantee Trust (SBCGT) facility, more than 787 entrepreneurs were provided with guarantee cover to access loans through commercial banks.According to Geingob, the businesses that have been generated through this facility created over 4 500 permanent jobs.”The Ministry is now considering transforming the SBCGT into a proper SME Bank,” he announced.He said at the multilateral and regional levels, efforts were being made to address the barriers to international trade and improve the competitiveness of local enterprises in the global market.”As the Minister of Trade and Industry, these issues are important for me,” Geingob said.This year’s fair attracted 486 exhibitors, including some from Botswana, China, Ghana, India, Indonesia, Japan, Kenya, Nigeria, South Africa, Tanzania and Zimbabwe.Geingob said Namibia was facing unusual economic challenges, with business competitiveness being eroded by many factors, including supply-side constraints, limited production incentives and the energy crisis, which was affecting all industries and leading to higher prices of goods and services.The resulting inflation could spark an economic downturn, the Minister said, but Government was taking the necessary fiscal, monetary and policy initiatives to address the problem.Geingob said his Ministry had rolled out some supportive programmes for the business sector.It was working closely with the regional authorities to boost business activities in as many parts of the country as possible.Geingob said the SME sector was the greatest direct beneficiary of these programmes, because it was the backbone of developing economies such as Namibia’s.The Ministry of Trade has constructed four industrial parks across the country, four slaughterhouses and 25 SME business parks totalling N$183 million, he pointed out.According to him, these industrial parks have translated into 500 business enterprises, employing 3 500 people in permanent jobs, while over 7 000 temporary jobs were also created during the construction phase.Sixty per cent of the entrepreneurs occupying these parks were women involved in light manufacturing, general trading and services.The Okalongo Business Park in the Omusati Region is about to be completed.The Ministry has also started with an industrial park at Okongo in the Ohangwena Region and will start with one in the Kapako Constituency of the Kavango Region.Feasibility studies have been completed for industrial parks at Namacoro, Ruacana, Karasburg, Outjo and Omaruru, Geingob said.”Entrepreneurs in the Industrial Parks as well as those operating outside these zones have an additional benefit of participating in the Ministry’s Group Purchasing Scheme, which enables SMEs to buy in bulk which is competitive for procurement of industrial equipment and inputs,” he said.He added that under the Ministry’s Small Business Credit Guarantee Trust (SBCGT) facility, more than 787 entrepreneurs were provided with guarantee cover to access loans through commercial banks.According to Geingob, the businesses that have been generated through this facility created over 4 500 permanent jobs.”The Ministry is now considering transforming the SBCGT into a proper SME Bank,” he announced.He said at the multilateral and regional levels, efforts were being made to address the barriers to international trade and improve the competitiveness of local enterprises in the global market.