Blacks being used to discredit NEEEF – Geingob

President Hage Geingob has startlingly claimed that there are white people who are lobbying black people to not support the implementation of the New Equitable Economic Empowerment Bill (NEEEB), which aims to address inequality in the economy. The Bill is currently undergoing industry-wide consultation.He made the comments following a courtesy call to State House by the Black Business Leadership Network of Namibia (BBLNN), which has accused commercial banks of using exploitative business practices to limit the growth of businesses owned by previously disadvantaged Namibians.“NEEEB was opposed by blacks being used by whites,” Geingob claimed.According to him, he even had to explain to England monarch Queen Elizabeth II why Namibia is considering the implementation of the equality framework.Geingob said while he had a five-minute meeting scheduled with the queen, he ended up using half an hour to explain why the bill was being mooted for implementation.“She even said ‘is it not going to take away from those who have?’ I asked ‘should we do like your friend [Robert] Mugabe did?’” referring to the late Zimbabwean stateman whose government had expropriated farmland from white owners in the 1990s.“I explained that we are trying to address the issue through laws,” the president added.‘NEEEF is a must’Meanwhile, BBLNN president Irene Simeon-Kurtz suggested that those opposed to NEEEF were trying to sabotage the future prosperity of previously disadvantaged Namibians.“NEEEF is a must; it must be implemented,” she said, adding that it would take previously disadvantaged Namibians a long time before they could enjoy the same economic prosperity enjoyed by white Namibians.The network also brought to Geingob’s attention its perceived view that commercial banks are holding black-owned businesses to a different standard than those owned by white Namibians.“Many black businesses never become corporates. We continue to experience difficulty in assessing finance,” she said.Simeon-Kurtz added that commercial banks set up stringent conditions for black-owned businesses hoping to access finance, often coupled with expensive loans.

Blacks being used to discredit NEEEF – Geingob

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Namibian Sun 2025-06-24

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Blacks being used to discredit NEEEF – Geingob

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Namibian Sun 2025-06-24

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