The Minister of Finance has announced an increase in social grants to cushion vulnerable members of society against the rising cost of food prices.
Iipumbu Shiimi made the much-welcomed announcement in Parliament on Tuesday as he delivered the mid-term budget for the years 2022 to 2023.
The Minister of Finance, Iipumbu Shiimi, has tabled an additional budget of N$4 billion in the National Assembly for the financial year 2022–2023.
In his mid-term budget adjustment, Iipumbu increased the operational budget from N$56.6 billion to N$60.1 billion.
Despite the introduction of the credit guarantee scheme for small and medium enterprises, SMEs, the Namibia Chamber of Commerce and Industry (NCCI) feels more can be done to relax collateral and security requirements against loans.
