Poverty, inequality and jobs crisis

Festus Nakatana
Joblessness is a national disaster. For a country that is already grappling with high levels of inequality, it is safe to say that we are sitting with a major crisis on our hands. For many years job creation in this country has been woefully off target and actually, more and more Namibians are losing jobs than never before. Companies have been forced to unexpectedly shed jobs because of a poorly performing economy slipping into a technical recession. The tough times are not yet over and the authorities need to step in and build up a strong base for the upliftment of the economy. Pumping money into the economy must be done in a responsible manner to avoid unnecessary wastage. However, the focus on solving this pertinent issue is overlooked by critical role players, including politicians and to some extent business. We find it extremely perplexing that there is no adequate public discourse highlighting the unemployment crisis befalling our nation. And, mind you, Namibia has one of the highest unemployment rates in the world. Almost every second young person in this country is without a job. Thousands graduating from tertiary institutions are not guaranteed work in this trying economy. Although millions were pledged in investments during the three-day Economic Summit, which focused on getting the Namibian economy growing again, there is still no position paper on how jobs would be created in the long run. In the meantime, the disparity in education, skill and income continues as senseless programmes are being implemented and only benefiting a selected few elite. The bottom line is that we have not declared war on unemployment, judging by the lackadaisical approach we are going about it. The approach to job creation must change for the better if we are really serious about pushing for more reforms to improve our economy.

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Namibian Sun 2024-05-19

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Premier League: Sheffield United 0 vs 3 Tottenham Hotspur | Crystal Palace 5 vs 0 Aston Villa | Brentford 2 vs 4 Newcastle | Brighton 0 vs 2 Manchester United | Liverpool 2 vs 0 Wolves | Burnley 1 vs 2 Nottingham Forest | Luton Town 2 vs 4 Fulham | Manchester City 3 vs 1 West Ham | Arsenal 2 vs 1 Everton | Chelsea 2 vs 1 Bournemouth LaLiga: Barcelona 3 vs 0 Rayo Vallecano | Cadiz 0 vs 0 Las Palmas | Granada 1 vs 2 Celta Vigo | Mallorca 2 vs 2 Almería | Atletico Madrid 1 vs 4 Osasuna | Villarreal 4 vs 4 Real Madrid | Valencia 1 vs 3 Girona | Real Betis 0 vs 2 Real Sociedad | Athletic Club 2 vs 0 Sevilla | Deportivo Alaves 1 vs 0 Getafe | Real Sociedad 1 vs 0 Valencia | Almería 0 vs 2 Barcelona | Las Palmas 2 vs 2 Real Betis SerieA: AS Roma 1 vs 0 Genoa | Inter Milan 1 vs 1 SS Lazio | Monza 0 vs 1 Frosinone | Udinese 1 vs 1 Empoli | Sassuolo 0 vs 2 Cagliari | Torino 3 vs 1 AC Milan | Lecce 0 vs 2 Atalanta | Fiorentina 2 vs 2 Napoli European Championships Qualifying: Southampton 3 vs 1 West Bromwich Albion | Leeds United 4 vs 0 Norwich City English Championship: Southampton 3 vs 1 West Bromwich Albion | Leeds United 4 vs 0 Norwich City F1: Emilia Romagna GP First:Max Verstappen Red Bull 01:25:25 Second:Lando Norris McLaren + 00:00:00.725 Third:Charles Leclerc Ferrari + 00:00:07.916 Katima Mulilo: 11° | 31° Rundu: 9° | 30° Eenhana: 11° | 31° Oshakati: 12° | 31° Ruacana: 12° | 31° Tsumeb: 13° | 29° Otjiwarongo: 12° | 27° Omaruru: 14° | 29° Windhoek: 12° | 26° Gobabis: 13° | 27° Henties Bay: 20° | 36° Wind speed: 27km/h, Wind direction: E, Low tide: 07:06, High tide: 13:28, Low Tide: 19:06, High tide: 01:31 Swakopmund: 20° | 26° Wind speed: 25km/h, Wind direction: S, Low tide: 07:04, High tide: 13:26, Low Tide: 19:04, High tide: 01:29 Walvis Bay: 22° | 33° Wind speed: 25km/h, Wind direction: SE, Low tide: 07:04, High tide: 13:25, Low Tide: 19:04, High tide: 01:28 Rehoboth: 12° | 27° Mariental: 15° | 29° Keetmanshoop: 18° | 30° Aranos: 15° | 29° Lüderitz: 16° | 35° Ariamsvlei: 18° | 32° Oranjemund: 13° | 33° Luanda: 24° | 26° Gaborone: 14° | 27° Lubumbashi: 11° | 26° Mbabane: 12° | 25° Maseru: 8° | 24° Antananarivo: 15° | 22° Lilongwe: 13° | 26° Maputo: 20° | 27° Windhoek: 12° | 26° Cape Town: 14° | 21° Durban: 17° | 28° Johannesburg: 15° | 24° Dar es Salaam: 24° | 32° Lusaka: 13° | 25° Harare: 12° | 26° Currency: GBP to NAD 23.01 | EUR to NAD 19.73 | CNY to NAD 2.51 | USD to NAD 18.15 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.7 | ZWL to NAD 0.04 | BRL to NAD 3.55 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.35 | USD to AOA 847.42 | USD to BWP 13.49 | USD to EGP 46.86 | USD to KES 130.48 | USD to NGN 1467 | USD to ZAR 18.15 | USD to ZMW 25.45 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 79530.63 Up +0.03% | Namibian Stock Exchange (NSX) Overall Index 1754.58 Up +0.81% | Casablanca Stock Exchange (CSE) MASI 13426.13 Up +0.11% | Egyptian Exchange (EGX) 30 Index 26142.84 Up +3.27% | Botswana Stock Exchange (BSE) DCI 9151.06 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$ 2 414.72/OZ UP +1.55% | Copper US$ 5.04/lb UP +4.12% | Zinc US$ 3 059.30/T UP 0.11% | Brent Crude Oil US$ 84.28/BBP UP +0.60% | Platinum US$ 1 084.88/OZ UP +2.19% Sport results: Premier League: Sheffield United 0 vs 3 Tottenham Hotspur | Crystal Palace 5 vs 0 Aston Villa | Brentford 2 vs 4 Newcastle | Brighton 0 vs 2 Manchester United | Liverpool 2 vs 0 Wolves | Burnley 1 vs 2 Nottingham Forest | Luton Town 2 vs 4 Fulham | Manchester City 3 vs 1 West Ham | Arsenal 2 vs 1 Everton | Chelsea 2 vs 1 Bournemouth LaLiga: Barcelona 3 vs 0 Rayo Vallecano | Cadiz 0 vs 0 Las Palmas | Granada 1 vs 2 Celta Vigo | Mallorca 2 vs 2 Almería | Atletico Madrid 1 vs 4 Osasuna | Villarreal 4 vs 4 Real Madrid | Valencia 1 vs 3 Girona | Real Betis 0 vs 2 Real Sociedad | Athletic Club 2 vs 0 Sevilla | Deportivo Alaves 1 vs 0 Getafe | Real Sociedad 1 vs 0 Valencia | Almería 0 vs 2 Barcelona | Las Palmas 2 vs 2 Real Betis SerieA: AS Roma 1 vs 0 Genoa | Inter Milan 1 vs 1 SS Lazio | Monza 0 vs 1 Frosinone | Udinese 1 vs 1 Empoli | Sassuolo 0 vs 2 Cagliari | Torino 3 vs 1 AC Milan | Lecce 0 vs 2 Atalanta | Fiorentina 2 vs 2 Napoli European Championships Qualifying: Southampton 3 vs 1 West Bromwich Albion | Leeds United 4 vs 0 Norwich City English Championship: Southampton 3 vs 1 West Bromwich Albion | Leeds United 4 vs 0 Norwich City F1: Emilia Romagna GP First:Max Verstappen Red Bull 01:25:25 Second:Lando Norris McLaren + 00:00:00.725 Third:Charles Leclerc Ferrari + 00:00:07.916 Weather: Katima Mulilo: 11° | 31° Rundu: 9° | 30° Eenhana: 11° | 31° Oshakati: 12° | 31° Ruacana: 12° | 31° Tsumeb: 13° | 29° Otjiwarongo: 12° | 27° Omaruru: 14° | 29° Windhoek: 12° | 26° Gobabis: 13° | 27° Henties Bay: 20° | 36° Wind speed: 27km/h, Wind direction: E, Low tide: 07:06, High tide: 13:28, Low Tide: 19:06, High tide: 01:31 Swakopmund: 20° | 26° Wind speed: 25km/h, Wind direction: S, Low tide: 07:04, High tide: 13:26, Low Tide: 19:04, High tide: 01:29 Walvis Bay: 22° | 33° Wind speed: 25km/h, Wind direction: SE, Low tide: 07:04, High tide: 13:25, Low Tide: 19:04, High tide: 01:28 Rehoboth: 12° | 27° Mariental: 15° | 29° Keetmanshoop: 18° | 30° Aranos: 15° | 29° Lüderitz: 16° | 35° Ariamsvlei: 18° | 32° Oranjemund: 13° | 33° Luanda: 24° | 26° Gaborone: 14° | 27° Lubumbashi: 11° | 26° Mbabane: 12° | 25° Maseru: 8° | 24° Antananarivo: 15° | 22° Lilongwe: 13° | 26° Maputo: 20° | 27° Windhoek: 12° | 26° Cape Town: 14° | 21° Durban: 17° | 28° Johannesburg: 15° | 24° Dar es Salaam: 24° | 32° Lusaka: 13° | 25° Harare: 12° | 26° Economic Indicators: Currency: GBP to NAD 23.01 | EUR to NAD 19.73 | CNY to NAD 2.51 | USD to NAD 18.15 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.3 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.7 | ZWL to NAD 0.04 | BRL to NAD 3.55 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.35 | USD to AOA 847.42 | USD to BWP 13.49 | USD to EGP 46.86 | USD to KES 130.48 | USD to NGN 1467 | USD to ZAR 18.15 | USD to ZMW 25.45 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 79530.63 Up +0.03% | Namibian Stock Exchange (NSX) Overall Index 1754.58 Up +0.81% | Casablanca Stock Exchange (CSE) MASI 13426.13 Up +0.11% | Egyptian Exchange (EGX) 30 Index 26142.84 Up +3.27% | Botswana Stock Exchange (BSE) DCI 9151.06 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$ 2 414.72/OZ UP +1.55% | Copper US$ 5.04/lb UP +4.12% | Zinc US$ 3 059.30/T UP 0.11% | Brent Crude Oil US$ 84.28/BBP UP +0.60% | Platinum US$ 1 084.88/OZ UP +2.19%