‘NEEEB will do more harm than good’ – Team Namibia

02 March 2021 | Opinion

Windhoek • Pieter van Niekerk

Adding its voice of concern to those of other industry and private-sector players, Team Namibia calls the latest National Equitable Economic Empowerment Bill (NEEEB) into question as an appropriate economic strategy – particularly given the current economic crisis the country faces – and calls for a proper economic impact assessment thereof.
Team Namibia believes the document, which was first introduced in 2017, revised in 2019 and again in 2021, includes concepts which would stop money coming into Namibia and would thus mean less jobs.
Despite strides made since national reconciliation began 30 years ago, inequality remains entrenched in Namibian society.
Economic empowerment is not a new concept in Namibia, and most residents and businesspeople support it, because when we have prosperity for all, there is a lesser burden on the state for social safety nets, more skilled workers in the labour pool, greater local support of local goods and services, and lower crime rates.
However, in its current form, NEEEB goes against any concept of unity and, in the view of economic experts, prosperity.

‘Vague and draconian’
Some preliminary analyses have been done by organisations on the “final draft” of NEEEB, questioning its constitutionality and describing the document as “vague and draconian”.
According to the Economic Policy Research Association (EPRA), the document, or bill if it is to be passed, “expressly and deliberately divides Namibians along racial lines [and] its purported beneficiaries include any and all Namibians previously disadvantaged, irrespective of past, current or future economic status”.
EPRA says that the current framework puts the most disadvantaged Namibians at risk, because it “sets the stage for substantive abuse of power, corruption, nepotism and mismanagement. It actively discourages foreign and domestic investment [and] encourages capital outflows…”
In 2019, a high-level panel of economic experts appointed by President Geingob to develop a strategy for national economic recovery, delivered a voluminous final report which stated: “Creating policy certainty and removing bottlenecks will result in an improved economic and investment climate, which is paramount for job creation.”
The panel further explained: “The key to sustainable and inclusive growth in Namibia will entail increasing the participation and employment of more people into the private sector and in particular, in more complex industries that have the potential to sustain higher wages.”
However, this fails to acknowledge that when security of ownership is threatened, fewer new investments are made, private sector disinvests over time and employment opportunities are further reduced.
In a free market system, markets are best suited to allocate scarce resources and allow supply and demand to set prices. The role of government is to uphold the rule of law, maintain the value of the currency and protect property rights. Job creation cannot be achieved if the protection of private property is not entrenched in government policy.
Under One Namibia, One Nation, NEEEB will do more harm than good. There are better alternatives to address the root causes of the socio-economic marginalisation of those who are most vulnerable and affected by poverty and unemployment, and we can find them if we work together.
*Pieter van Niekerk is the chairperson of Team Namibia.

Similar News

 

Somehow intertwined, definitely unveiled

1 week ago - 15 April 2021 | Opinion

Windhoek • Natasja Beyleveld “To see a splendid kingdom fade away is far sadder than seeing a second-rate republic collapse.” (Translated from Japanese by Jay...

Digital Transformation and the Future: F = D +...

1 week ago - 13 April 2021 | Opinion

Windhoek • Sergio de SousaThe phrase ‘digital transformation’ has various definitions and perspectives. Regardless of the definition, it’s the intent behind the transformation that counts....

Inclusion more important than ever

1 week ago - 13 April 2021 | Opinion

Herman KatjiuonguaOur sense of belonging has taken a tremendous knock since Covid-19 reared its ugly head. We have been cut off from our daily lives,...

GIPF and member education

1 week ago - 12 April 2021 | Opinion

Windhoek • Amos KambondeSince March 2020, thousands of GIPF members were affected by the lockdown due to Covid-19.On an annual basis, GIPF implements a robust...

The dollar-rand peg: Time to decouple?

3 weeks ago - 30 March 2021 | Opinion

Windhoek • Carel Jordaan, RMB TraderNamibia’s sophisticated and liquid foreign exchange market plays a crucial role in its economy. Notwithstanding the country’s size, we have...

Sport creates equality – and it starts at school...

1 month - 16 March 2021 | Opinion

Windhoek • Jacobina Tangi UushonaThe month of March is when we celebrate International Women’s Day. But frankly, getting one day in March is not enough...

The Privacy Guide: Simple tools to keep you better...

1 month - 12 March 2021 | Opinion

Matthew Stern WhatsApp did a great job of awakening the user privacy and security debate earlier in the year, with their controversial privacy policy which...

The impact of Covid-19 on women

1 month - 07 March 2021 | Opinion

Windhoek • Sepo HaihamboAt the core of its purpose, commemorating International Women’s Day is aimed at celebrating women’s accomplishments as well as to honour their...

Don’t just acknowledge…celebrate women in IT

1 month - 05 March 2021 | Opinion

Windhoek • Ilana ErasmusMarch 8th is International Women’s Day – the one day in a year that women, their accomplishments and contributions to life, society...

New age marketing during the pandemic

1 month - 02 March 2021 | Opinion

Windhoek • Marlize MareeWhat a roller coaster ride it continues to be, especially when all your resources depend mainly on digital marketing.Not in a million...

Latest News

Struggle kids ‘stigmatised’

1 hour ago | Social Issues

Children of the liberation struggle, also known as ‘struggle kids’, feel it is hard for them to secure employment outside government, because there is a...

Central estates agents awarded

1 hour ago | Banking

Aqua Real Estate, Rightmove Properties Windhoek and Arnel Properties were announced as the top three central estate agencies servicing Bank Windhoek.In the category for Residential...

Knight Piésold celebrates a century

2 hours ago | Business

From its humble beginnings in South Africa on 1 April 1921, Knight Piésold has established and grown its local operations within Southern Africa, through its...

Visual arts on a roll!

1 day - 21 April 2021 | Art and Entertainment

The Bank Windhoek Triennial 2020 Awards ceremony and exhibition opening takes place on Thursday (22 April 2021) at 16:00. With 491 submissions received of which...

Family’s battle to reunite continues...

1 day - 21 April 2021 | Justice

Windhoek • [email protected] Namibian High Commission in Pretoria on Tuesday briefly shut the door to Namibian Phillip Lühl after he tried to submit a formal...

Campaigning for counselling

1 day - 21 April 2021 | Crime

Members of Parliament (MPs) have proposed compulsory counselling and psychological support for victims, perpetrators or anyone exposed to gender-based violence to end the cycle of...

Whistleblower Stefánsson scoops WIN WIN...

1 day - 21 April 2021 | Justice

This year’s winner of the WIN WIN Gothenburg Sustainability Award is the Icelandic whistleblower Jóhannes Stefánsson, who led the revelation of a widespread corruption scandal...

Sewing machines, fabric for NCS

1 day - 21 April 2021 | Business

Mulungushi Textiles & Importers recently donated overlock sewing machines and fabrics worth around N$100 000 to the Namibian Correctional Services. The Khomas & Hardap regions...

Is your agent making use...

1 day - 21 April 2021 | Life Style

The way we live and work has been dramatically altered by the pandemic. It follows then that the way people buy and sell houses will...

Load More