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).

According to Namibia's Country Report, most of the informal sector practices trade, which makes up over 50%, followed by manufacturing at 26% and repair services at 13%.

Iipumbu says that she understands that the informal sector is the engine of innovation, driving economic growth and job creation.

Therefore, her ministry aims to create a supportive ecosystem that encourages the birth and growth of new enterprises, ensuring that they have the necessary resources, mentorship, and infrastructure in which to thrive.

"The government, through the Ministry of Industrialization and Trade, is implementing a series of initiatives, including but not limited to financial support. This is done through our Equipment Aid Scheme and Industrial Upgrading Modernization Programme, entrepreneurial training through robust transformational change mentorships to SMEs, as well as the provision of a comprehensive range of business advisory services under our Empretec programme, start-up Namibia Centre, and Gemstone Cutting and Polishing Centre in Karibib, to mention but a few."

Photo Credits
Ministry of Industrialisation and Trade


Stefan |Uirab