Over N$600K for trade show

04 March 2019 | Local News

Vice-president Nangolo Mbumba has urged the Ondangwa town council to benefit optimally from its economic infrastructure in order to attract investors.

Mbumba said this at the ninth Ondangwa Trade and Industrial Exhibition (OTIE) gala dinner on Saturday, where N$622 100 was raised toward the exhibition scheduled for 29 April to 4 May.

He said that Ondangwa has unique infrastructure including an airport and a train station, and it is also strategically located providing access to the Ohangwena, Oshana and Oshikoto regions.

“The town council's motto of 'Your ideal investment destination', drives Ondangwa town to be an ideal investment destination. I urge council to derive optimal benefits from its existing infrastructure. You should explore innovative ways and means to create an economic hub in order to fully integrate Ondangwa economically, socially, and environmentally.

“All these ideals are outlined in your strategic plan, investment policy and local economic development strategy in order to invite more genuine investors to come and do business the town of Ondangwa and its surrounds.”

Mbumba said he is impressed at the rate at which Ondangwa is developing offering diverse opportunities to its residents and visitors, and also to prospective investors especially those operating in the SME sector.

The council CEO Ismael Namgongo said that for the past eight years, the council has hosted the exhibition to grow local economy.

He said the role which SMEs and manufacturing play within the economy cannot be overlooked because they have potential to create employment and contribute to economic growth.

The special advisor to the governor for Oshana Region, Michael Mwinga, said that the leadership of town continues to devote its efforts to promote the local economy through trade and SME development for the national growth.

“I commend the leadership of Ondangwa for their continued efforts and perseverance in putting up all the necessary developmental infrastructure and for their strategic intent in attracting more prominent investors essential for the transformation and advancement of Ondangwa and the region as a whole,” Mwinga said.

The council this year reduced the OTIE's days from nine to seven following complaints from exhibitors, and in consultation with stakeholders. Namgongo said that the town council is committed to invest around N$1 million a year in preparing and hosting the event.

During the gala dinner the business fraternity and individuals raised N$622 100. Among the highest pledges include the Northern Regional Electricity Distributor (NORED) with N$92 000, First National Bank (FNB) with N$80 000, Ondangwa Private Hospital with N$55 000 in cash and N$10 000 worth in healthcare services, MTC with N$50 000 in cash and N$7 000 in Wi-Fi services, and Standard Bank with N$40 000.

ILENI NANDJATO

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