The Confederation of Namibian Fishing Associations (CNFA) has warned the government against auctioning fishing quotas.

Its Chairperson, Matti Amukwa, said the approach discourages the nationalisation of the industry.

Amukwa was speaking at the annual fishing industry address at Walvis Bay.

Micro, Small, and Medium-sized Enterprises (MSMEs) play a vital role in an economy, particularly in providing necessary goods, services, and employment opportunities for citizens.

Namibia's borrowing and debt levels have been a concern in recent years, but are now under control and are showing a decline since the beginning of this year.
 
Finance and Public Enterprises Minister, Iipumbu Shiimi, said the country's debt level is still sustainable and within controllable levels.

Higher Education, Training, and Innovation Minister Itah Kandjii-Murangi has said the development of professional and technical human resources, research, science, technology, and innovation infrastructure is the cornerstone of the transformation of the Namibian economy.

Namibia has recorded an increase in inflation during 2022 compared to 2021, posing great pressure on the cost of living. 

This was revealed in the Bank of Namibia 2022 Annual Report, launched in the capital on Wednesday. 

Overall inflation rose significantly from 3,6% in 2021, to 6,1% in 2022.