Geingob opens u2018Omatalau2019 at Oshikango
Geingob opens u2018Omatalau2019 at Oshikango

Geingob opens ‘Omatala’ at Oshikango

NAMPA
HELAO NAFIDI – President Hage Geingob said the Helao Nafidi Town Council in the Ohangwena Region has contributed to the government’s objective of sustained economic development by constructing an Open Market at the town to fuel local business.

Geingob said this when he officially inaugurated the new Open Market, or “Omatala”, at the Helao Nafidi Town’s Oshikango suburb on Saturday.

“Scholars of economics have presented the argument that entrepreneurship and business are the key drivers not only of economic development, but also catalysts for the reduction of poverty,” Geingob told his audience.

According to him, entrepreneurs in Helao Nafidi and surrounding areas have waited patiently for trading facilities such as the Open Market.

He commended the town council for promoting a business-friendly environment in which entrepreneurship and business are pathways leading to the reduction of poverty.

The new Open Market can be viewed as an incubator for the future development of larger public infrastructure, aimed at enhancing economic competitiveness, Geingob said.

“As our vendors and building entrepreneurs ply their trade at this open market, they are setting themselves up to morph into small and medium enterprises (SMEs) and fully-fledged manufacturing companies in the future,” he said.

Investors

He then encouraged the town council to keep on working tirelessly to prioritise the socio-economic and development aspirations of its residents.

Geingob went on to say if the town council wants its town to continue growing and become the pride of Ohangwena, it must also engage in efforts to attract investors and business people from elsewhere to bring their expertise and businesses to the town.

He wished all vendors a future of successful business and continued growth, while on the other hand urging the town leadership and community to safeguard the Open Market so that it can serve for years to come.

Speaking at the same event, urban and rural development minister Sophia Shaningwa pointed out that the Helao Nafidi Town Council has funded the construction of the new Open Market at a cost of more than N$5.7 million.

The Open Market has a capacity of 364 business stalls, but it accommodates 634 vendors including those who are doing business in the open space. - Nampa

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Namibian Sun 2024-03-29

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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 233.12/OZ UP +1.93% | Copper US$ 3.99/lb UP +0.12% | Zinc US$ 2 455.50/T UP 0% | Brent Crude Oil US$ 87.65/BBP UP +1.46% | Platinum US$ 908.62/OZ UP +1.53%