Genuine economic empowerment

Drafters of the New Equitable Economic Empowerment Framework in Namibia (NEEEF) are working around the clock to finalise this important legislation, which aims to promote equitable, inclusive and shared economic development. Despite wide consultations headed by the Office of the Prime Minister and the Law Reform Development Commission, there are lingering questions around the proposed bill. One particular empowerment pillar that has been frowned upon is the proposal that seeks to give blacks a tangible stake in mainstream businesses with minimum requirements of 25% ownership. It has since emerged that this specific pillar has been removed, according to a media report. A weekly reported last week that the government has bowed to pressure from lobby groups such as the Namibia Chamber and Industry (NCCI), the Manufacturing Association of Namibia (MFA), the Chamber of Mines of Namibia (CMN) and the Namibian Employers Federation (NEF) to remove the 25% clause in place of broad-based empowerment that will include all communities in Namibia. For a country grappling with high levels of inequality and unemployment, particularly among the youth, it is incumbent upon policies such as NEEEF to tackle significant redistributive measures in order to offer much hope for struggling Namibians rather than just empowering the already empowered. It should not be about helping a small group of the elite in the name of black economic empowerment. What is needed is a programme that is about redistribution of skills, resources and wealth. We have warned authorities in the past not to sell this NEEEF idea as a quick way to riches without too much effort. For NEEEF to succeed it must be done in an orderly manner and help level the playing field by drawing the black majority into all levels of the economy, including as employers and supervisors. There must be genuine empowerment of all Namibians and not just a selected few, who are already sitting pretty. A transformation policy which does little to help improve the lives of the ordinary people will be meaningless. We surely can't be happy with the high levels of inequality and poverty in which our people are wallowing in.