Close to 130 000 job losses
A total of 129 644 Namibians have lost their jobs since 2014 due to the drought and global financial recession, according to Economic Association of Namibia executive Klaus Schade.
In a presentation on Namibia's economy and future prospects on Tuesday, Schade said 74 074 people had lost their jobs in the agriculture and fishing sector, 31 607 in wholesale and retail trade, 11 629 in public administration, 7 944 in the private sector and 4 390 in the transport and storage sector.
Schade attributed the high number of job losses in the agriculture and fishing sector to the drought the country had experienced for the past four consecutive years.
Giving a breakdown of job losses per region in the agricultural sector, Schade said the Omusati Region had the most job losses (22 794), followed by 8 730 jobs in Kunene, 7 564 in Ohangwena and 6 919 in Oshikoto.
Schade said the wholesale and retail trade was affected by retrenchments in the construction and related industries.
The presentation emphasised that the agricultural sector's production in 2017 had increased by 10 per cent due to good rainfall received.
He further said that mining could expect an upsurge given the commissioning of a new diamond exploration vessel, higher zinc and copper prices and an expected increase in production at the Husab uranium mine in 2018.
“Husab, at full production, is the second largest uranium mine globally and its full production will have an impact on global prices,” said Schade, adding that production remained low at the moment.
In June this year, Debmarine Namibia launched the world's most advanced diamond exploration and sampling vessel, the MV Sam Shafiishuna Nujoma.
NAMPA
In a presentation on Namibia's economy and future prospects on Tuesday, Schade said 74 074 people had lost their jobs in the agriculture and fishing sector, 31 607 in wholesale and retail trade, 11 629 in public administration, 7 944 in the private sector and 4 390 in the transport and storage sector.
Schade attributed the high number of job losses in the agriculture and fishing sector to the drought the country had experienced for the past four consecutive years.
Giving a breakdown of job losses per region in the agricultural sector, Schade said the Omusati Region had the most job losses (22 794), followed by 8 730 jobs in Kunene, 7 564 in Ohangwena and 6 919 in Oshikoto.
Schade said the wholesale and retail trade was affected by retrenchments in the construction and related industries.
The presentation emphasised that the agricultural sector's production in 2017 had increased by 10 per cent due to good rainfall received.
He further said that mining could expect an upsurge given the commissioning of a new diamond exploration vessel, higher zinc and copper prices and an expected increase in production at the Husab uranium mine in 2018.
“Husab, at full production, is the second largest uranium mine globally and its full production will have an impact on global prices,” said Schade, adding that production remained low at the moment.
In June this year, Debmarine Namibia launched the world's most advanced diamond exploration and sampling vessel, the MV Sam Shafiishuna Nujoma.
NAMPA
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