Finance Minister Ericah Shafudah informed the National Assembly that the government has not forgotten its 2025 discussions on ensuring that key commodities form part of the country's national reserves.

She said work has already started, particularly around gold, and a memorandum of understanding was signed recently as one of the first steps.

Minister Shafudah was responding to a question by AR leader Job Amupanda on why the minister did not give a formal announcement to the National Assembly when the government made the decision.

Responding, Shafudah said authorities have been working on the matter and that the Bank of Namibia has been entrusted to engage companies.

The minister explained that agreements are now being developed and that a legal framework will follow.

The intention, however, she said, is not for the state to continue buying commodities but to ensure that a certain percentage is allocated or given to the government as part of national reserves.

"We have little time also for ministerial statements; that is why I did not announce these major achievements. But indeed, I believe that one of the days in this parliament we have indicated that we have to work very hard to ensure that some of the commodities, if not all, should form part of the national reserves. I think we said it in 2025. So we have not forgotten about that discussion. The intention is not for us to buy. It's for us to have a certain percentage of these commodities to be donated, in fact, to be given to the state. So that is the vision. We will keep on updating all of us on this one."