Open market gives Oshakati a boost

THE new Oshakati open market, named after one of Namibia’s renowned businessmen Frans Aupa Indongo, will serve as another front in the country’s collective war against poverty, President Hage Geingob said on Friday.

The new market with a capacity to accommodate 500 vendors was constructed at a cost of N$80 million.

Geingob said the growth which Oshakati has undergone was a testament of the work ethic and determination of the people of Oshana region.

He said many of those who decide to pursue economic success in urban areas end up plying their trade as street vendors, forming part of the so-called informal sector.

The new Oshakati open market will cater for these fledgling entrepreneurs by allowing vendors to conduct their business in an unified, orderly and conducive environment.

Geingob said the new market, which is integrated into the long- and short-distance bus terminal, has the potential to economically empower people as it will not only cater for those from Oshakati and the surrounding areas but also for people from far.

“The multifaceted dimension of our strategy to fight the war on poverty includes catering for those Namibians who form part of the informal economy. We provide them with a stepping stone to mature into small and medium enterprises and grow into fully fledged companies in the future,” Geingob said, adding that according to the Namibian labour force survey of 2014 carried out by the Namibia Statistics Agency, 41,4% of the employed Namibian population are in the informal sector.

In Oshana region, out of 57 288 people employed, 20 796 are in the informal sector, representing 36,3% of the total number of employed people in the region.

“It is obvious that we are talking about a large number of Namibians, many of whom are the sole breadwinners in their households and therefore provide the only line of defence in the war against poverty. It is a must that we support these people, and thanks to the efforts of the Ministryof Industrialisation, Trade and SME Development, the Oshakati town council as well as other stakeholders, this project valued at over N$80 million will become a noteworthy venue, where our women and men can pursue a better life through business,” the President said.

In his speech, read on his behalf by Martin Shipanga from the Frans Aupa Indongo Group, Indongo urged all vendors to work hard in order to earn money. He said he also started in business as a street vendor, and it helped him become what he is today.