NCCI Swakopmund to host Breakfast meeting with Schlettwein

Sharlien Tjambari

The Namibia Chamber of Commerce and Industry, alongside its event partners, Standard Bank, Liberty Life, PWC and Namibia Media Holdings, will be hosting the 2nd annual Budget Review Breakfast meeting on Friday, 5 April 2019 at the Dome, Swakopmund.

The Minister of Finance Calle Schlettwein will provide the budget review at the NCCI Swakopmund 2nd Breakfast meeting. As a keynote speaker, he will use the platform to brief the business community on the current economic climate within the country, the 2019/ 2020 economic outlook, and the national budget.
The Chairperson of Namibia Chamber of Commerce and Industry (NCCI) Swakopmund branch Paul Ndjambula said there is no sugar-coating when it comes to the state of the economy.
Information from the Bank of Namibia reveals that Namibia’s economy remains weak and is expected to recover gradually in the medium term. Real GDP is expected to contract by 0.2 percent in 2018, from a deeper con-traction of 0.9 percent in 2017, and thereafter recover to a growth rate of 1.5 percent in 2019.
“These revised growth projections are weaker than the 0.6 percent and 1.9 percent projected earlier in the July 2018 Economic Outlook. The down-ward revision in the 2018 growth was mainly reflected in tertiary industries, growth rates in sectors such as wholesale and retail trade, real estate and business services, hotels and restaurants, government sectors and taxes on products are likely to be significantly lower than earlier anticipated”, said Ndjambula.
Ndjambula further said Namibia relies much on SOEs and government in general as a driver of the economy; therefore, when the government and primary industries contract (where Namibia is at the mercy of the world markets), there is little cushion to fall back on.
“But, some would argue that recessions are good (however painful). Pain wakes us out of complacency. Pain helps us to focus – and think outside the box to move for-ward. However, understanding what makes us ill is only the first part of recovery. The second is to actually put to action the changes to make us better. To act, we need know-ledge and under-standing of the dynamic market place and act not only individually, but also as a community”, he added.
As the premier voice of business of the Erongo region, NCCI Swakopmund works to help and improve the business community in times of good and bad.
As a business organisation NCCI creates platforms to educate, motivate, and provide a voice to our members and community. Erongo region continues to be the driver of the Namibian economy, but not without its challenges in this ongoing recession.
This year NCCI Swakopmund already hosted a successful Members’ Networking Hour at the Swakopmund Hotel and Entertainment Centre. Joined by the new CEO of the Municipality, Mr Alpheus Archie Benjamin, among other guests the venue provided a valuable networking hour in a relaxed setting.
The NCCI Swakopmund promises to provide the platform and knowledge for the business community to act and thrive in good times and bad. NCCI Swakopmund branch believes there are business opportunities to be explored even in tough economic times and look forward to seeing new members with new ideas to explore and share with the community.

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