A local tour business operator is encouraging young people to be innovative and seek business opportunities within the tourism sector.

The founder of James Tours and Safari, James David, acknowledged the challenges facing local businesses in the tourism industry, such as the dominance of global companies with more capital, creating an imbalance.

But James David says this should not be seen as a setback for people who want to join the industry, as it has a lot to offer.

The Bank of Namibia (BoN) wants credit extension decisions to be taken locally, a move it says is not against foreign investment.

The Bank's Governor, Johannes !Gawaxab says the amount of credit extended to locals currently, especially Small and Medium Enterprises, is quite low.

The central bank is thus proposing amendments to the law to enable it to authorise Namibians to make credit extension decisions.