Investment board overreaching, economist says

JEMIMA BEUKES WINDHOEKEconomist Dr Omu Kakujaha-Matundu has advised the Namibia Investment Promotion and Development Board (NIPDB) – which is planning to introduce an Ostora concept - to “stay in its lane” and attract foreign investment.NIPBD recently announced that the Ostora will be a branded retail store that exclusively stocks Namibian goods produced by small and medium-sized enterprises (SMEs) in an effort to fast track obtaining shelf space for local goods.Kakujaha-Matundu said the board has no business in retail space, adding that it should leave it to SMEs.He said they should see how they can support local producers and go back to the retail charter and trade forum and see what has been done to support local producers to stock their goods in private retail stores.“I don’t think Ostora is one of their mandates. They are not there to basically start creating corner shops. This is not a one-dollar shop; this is a shop that will compete with South African giants and even local stores,” he said.Kakujaha-Matundu added that a priority right now is to support local suppliers and producers to get their products on shelves. Long time comingDuring a press conference last Friday, NIPDB CEO Nangula Uuandja said the Ostora concept has been on the cards at the trade and industrialisation ministry for over 10 years.She added that last week, during a diversification strategy talk show, they identified 97 products that need to be enhanced to increase local productivity.These products include chemicals, food, minerals and transport and logistics.She said the kick-off would be to engage players in industries and establish the challenges local producers face.“In the next month, we will be launching those items and go to the market to ask people who want to play in those fields and see how we can increase Namibia’s productivity,” she said.Uaandja will be on The Evening Review, Namibian Sun’s talk show, tonight to shed more light on this concept. The show airs at 18h00 on the newspaper’s Facebook page and YouTube channel.jemima@namibiansun.com

Investment board overreaching, economist says

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Namibian Sun 2025-04-03

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Investment board overreaching, economist says

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Namibian Sun 2025-04-03

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