The Minister of Industrialization and Trade, Lucia Iipumbu, says that the government recognises the invaluable role that the informal economy plays in the nation's economic landscape. 

Iipumbu says that the men and women who form the backbone of this sector contribute significantly to the GDP and create much-needed employment opportunities. 

She said this during a consultation meeting aimed at drafting a Special Economic Zone Bill (SEZ).

The business communities from Namibia and South Africa held their first-ever business forum with the aim of deepening their economic ties.

The Minister of Industrialization and Trade, Lucia Iipumbu, is concerned about the unequal trade between the two countries, with South Africa dominating the partnership.

South Africa remains one of Namibia's main trading partners, with exports standing at 27%. On average, trade relations between the two countries reflect a trade balance of N$30 billion in favour of South Africa.