Local whites anti NEEEB – Hage

OGONE TLHAGEWINDHOEKPresident Hage Geingob says white Namibians have an issue with the New Equitable Economic Empowerment Bill (NEEEB), and not foreign investors.He made the comment at State House after a courtesy call by the Business Rescue Task Force last week. The task force had presented Geingob with an interim report on work done thus far.According to him, foreign investors had no problems with the bill, which has been cited as a deterrent to investment.“I never heard them saying that, I hear it from Namibian investors, white people, not from foreigners, I never heard them saying that,” Geingob said in response to an interim presentation made by the task force.Also speaking on the matter was task force chairperson Thinus Prinsloo, who said there had been no input on the bill, adding that there was a need to implement the bill to assess its impact.“We haven’t had any input, our key ask here is, whatever the outcome is, get it out. The uncertainty seems to be causing more discomfort as to what may or may not be in there but we haven’t had any direct opportunity input on that, it is really sitting with the Namibia Investment and Trade Development Board (NIPDB),” Prinsloo said.UncertaintyNamibian Sun understands, for example, that one of the issues delaying the takeover of Erindi Private Game Reserve by Mexican billionaire Alberto Baillères is the uncertainty around NEEEB.The framework is deemed to give tremendous discretionary powers to an as yet unspecified minister, according to the Institute for Public Policy Research (IPPR).“Although it drops the earlier 25% equity requirement, the bill is drafted in such a way that such a requirement could be brought in again through the ownership pillar,” IPPR earlier commented, adding that there’s little chance any investor would know what regulatory hurdles they would face for at least another five years.

Local whites anti NEEEB – Hage

Comments

Namibian Sun 2025-09-19

Please login to leave a comment

Local whites anti NEEEB – Hage

Comments

Namibian Sun 2025-09-19

Please login to leave a comment

Login