Locals must run economy
Locals must run economy

Locals must run economy

Natangwe Ithete wants young people to be at the forefront of the country's economic development.
Kenya Kambowe
In a no-holds-barred speech, the deputy minister of finance, Natangwe Ithete, has called on young people to take charge of the country and avoid further exploitation by foreigners whom he claims are a drain on Namibia's economy. “

We have so many foreigners coming to our country, stealing our economy, stealing our money, exploiting our people giving them unskilled jobs and training… and not skilled training which will enable them to develop our country.

It's about time as a government that we must concentrate on direct investment,” said Ithete, who was addressing the Swapo Party Youth League Oshana regional conference at the weekend.

Ithete stressed “enough is enough” and that the youth and government should work together to find amicable solutions to grow the economy.

He indicated foreigners only come to Namibia for certain tenders, saying they don't plough back into local communities.

“We need foreigners in this country, they are more than welcome but when they come here, they must come and directly invest in the economy of our country by building malls, clinics and schools for us and one day when they leave, the buildings they built for us will not leave with them,” Ithete said.

“They are just here providing us services and they are also just stealing our money, stealing even our N$200 million at SME bank, these things must stop.

“As SPYL we must take the centre stage in advising government for some of these things to stop.”

He encouraged the SPYL members to correct and advise government where it is not making the best of decisions.

“As SPYL, let us correct and advise government where government is getting off the road. The economy of the country is in our hands,” he said.



Land question

Ithete also strongly spoke on the issue of land in the country saying it is about time government pulls up its socks and address the burning national issue.

He said the time is up for Namibians to get what rightfully belongs to them, saying this was the purpose of the liberation struggle, which claimed the lives of thousands of Namibians.

Ithete said the concept of willing-buyer, willing-seller was not working arguing those in charge of getting the land back should strengthen their efforts because the youth are ready to take back what their forefathers and mothers fought for.

He said Namibians are not free if they are not in charge of the land. “We are not even supposed to buy the land as they killed our people and now we have to buy it back. It is about time we as young people say enough is enough. If those ones in positions do not want to bring the land back, if they think our elders went into exile to fight for mahala and not for the land, they are lying to themselves. We are not yet free until we have the land in our hands,” Ithete said.



KENYA KAMBOWE

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Namibian Sun 2024-04-18

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Premier League: Chelsea 6 vs 0 Everton LaLiga: Osasuna 0 vs 1 Valencia SerieA: Atalanta 2 vs 2 Hellas Verona | Fiorentina 1 vs 1 Genoa European Championships Qualifying: Southampton 3 vs 0 Preston North End English Championship: Southampton 3 vs 0 Preston North End Katima Mulilo: 18° | 34° Rundu: 18° | 33° Eenhana: 20° | 36° Oshakati: 22° | 35° Ruacana: 21° | 35° Tsumeb: 20° | 33° Otjiwarongo: 18° | 32° Omaruru: 20° | 34° Windhoek: 17° | 31° Gobabis: 18° | 31° Henties Bay: 16° | 24° Wind speed: 22km/h, Wind direction: S, Low tide: 06:51, High tide: 13:03, Low Tide: 18:49, High tide: 01:16 Swakopmund: 16° | 19° Wind speed: 23km/h, Wind direction: SW, Low tide: 06:49, High tide: 13:01, Low Tide: 18:47, High tide: 01:14 Walvis Bay: 17° | 26° Wind speed: 28km/h, Wind direction: SW, Low tide: 06:49, High tide: 13:00, Low Tide: 18:47, High tide: 01:13 Rehoboth: 18° | 32° Mariental: 21° | 34° Keetmanshoop: 21° | 35° Aranos: 20° | 33° Lüderitz: 15° | 28° Ariamsvlei: 21° | 35° Oranjemund: 15° | 24° Luanda: 26° | 29° Gaborone: 18° | 30° Lubumbashi: 16° | 25° Mbabane: 15° | 26° Maseru: 11° | 24° Antananarivo: 10° | 24° Lilongwe: 17° | 24° Maputo: 19° | 30° Windhoek: 17° | 31° Cape Town: 16° | 24° Durban: 19° | 26° Johannesburg: 15° | 26° Dar es Salaam: 23° | 29° Lusaka: 18° | 28° Harare: 15° | 28° Currency: GBP to NAD 23.75 | EUR to NAD 20.36 | CNY to NAD 2.64 | USD to NAD 19.14 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.33 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.02 | ZMW to NAD 0.74 | ZWL to NAD 0.04 | BRL to NAD 3.62 | RUB to NAD 0.2 | INR to NAD 0.23 | USD to DZD 134.2 | USD to AOA 832.83 | USD to BWP 13.77 | USD to EGP 48.28 | USD to KES 132.73 | USD to NGN 1147.53 | USD to ZAR 19.14 | USD to ZMW 25.5 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 73271.44 Up +0.38% | Namibian Stock Exchange (NSX) Overall Index 1531.99 Up +0.70% | Casablanca Stock Exchange (CSE) MASI 13455.65 Up +0.53% | Egyptian Exchange (EGX) 30 Index 28332.65 Down -4.5% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - 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$ 2 379.05/OZ UP +0.47% | Copper US$ 4.41/lb UP +2.18% | Zinc US$ 2 831.90/T UP 0.11% | Brent Crude Oil US$ 87.21/BBP DOWN -0.0057 | Platinum US$ 936.69/OZ DOWN -0.0035 Sport results: Premier League: Chelsea 6 vs 0 Everton LaLiga: Osasuna 0 vs 1 Valencia SerieA: Atalanta 2 vs 2 Hellas Verona | Fiorentina 1 vs 1 Genoa European Championships Qualifying: Southampton 3 vs 0 Preston North End English Championship: Southampton 3 vs 0 Preston North End Weather: Katima Mulilo: 18° | 34° Rundu: 18° | 33° Eenhana: 20° | 36° Oshakati: 22° | 35° Ruacana: 21° | 35° Tsumeb: 20° | 33° Otjiwarongo: 18° | 32° Omaruru: 20° | 34° Windhoek: 17° | 31° Gobabis: 18° | 31° Henties Bay: 16° | 24° Wind speed: 22km/h, Wind direction: S, Low tide: 06:51, High tide: 13:03, Low Tide: 18:49, High tide: 01:16 Swakopmund: 16° | 19° Wind speed: 23km/h, Wind direction: SW, Low tide: 06:49, High tide: 13:01, Low Tide: 18:47, High tide: 01:14 Walvis Bay: 17° | 26° Wind speed: 28km/h, Wind direction: SW, Low tide: 06:49, High tide: 13:00, Low Tide: 18:47, High tide: 01:13 Rehoboth: 18° | 32° Mariental: 21° | 34° Keetmanshoop: 21° | 35° Aranos: 20° | 33° Lüderitz: 15° | 28° Ariamsvlei: 21° | 35° Oranjemund: 15° | 24° Luanda: 26° | 29° Gaborone: 18° | 30° Lubumbashi: 16° | 25° Mbabane: 15° | 26° Maseru: 11° | 24° Antananarivo: 10° | 24° Lilongwe: 17° | 24° Maputo: 19° | 30° Windhoek: 17° | 31° Cape Town: 16° | 24° Durban: 19° | 26° Johannesburg: 15° | 26° Dar es Salaam: 23° | 29° Lusaka: 18° | 28° Harare: 15° | 28° Economic Indicators: Currency: GBP to NAD 23.75 | EUR to NAD 20.36 | CNY to NAD 2.64 | USD to NAD 19.14 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.33 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.02 | ZMW to NAD 0.74 | ZWL to NAD 0.04 | BRL to NAD 3.62 | RUB to NAD 0.2 | INR to NAD 0.23 | USD to DZD 134.2 | USD to AOA 832.83 | USD to BWP 13.77 | USD to EGP 48.28 | USD to KES 132.73 | USD to NGN 1147.53 | USD to ZAR 19.14 | USD to ZMW 25.5 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 73271.44 Up +0.38% | Namibian Stock Exchange (NSX) Overall Index 1531.99 Up +0.70% | Casablanca Stock Exchange (CSE) MASI 13455.65 Up +0.53% | Egyptian Exchange (EGX) 30 Index 28332.65 Down -4.5% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - 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$ 2 379.05/OZ UP +0.47% | Copper US$ 4.41/lb UP +2.18% | Zinc US$ 2 831.90/T UP 0.11% | Brent Crude Oil US$ 87.21/BBP DOWN -0.0057 | Platinum US$ 936.69/OZ DOWN -0.0035