Pohamba praises FNB Namibia

President Hifikepunye Pohamba last week said Government is committed to the creation of an enabling environment so that business in general can have confidence in the country’s economy.  
Speaking during the FNB ground-breaking ceremony in Windhoek, Pohamba said the N$434m construction was a milestone in the development of the financial sector in Namibia.
“I am informed that during the construction of the new FNB Headquarters, approximately 280 employment opportunities will be created. This will increase to about 420 jobs towards the completion of the project. This is indeed a welcome development at the time when our country is battling with high unemployment rate,” Pohamba said.  
The President also said the fact that FNB is investing in Namibia is a clear indication for the bank’s confidence in the country.
“Through this project, FNB Namibia is re-investing resources into the national economy,” he said adding: “It is pleasing to note that, despite the global economic crisis, our economy has remained resilient and stable. This is a result of the sound macro-economic policies adopted by our government and the prudent management of our financial sector.”
Based on this the President stressed, Government will continue to facilitate the adoption of appropriate policies that will promote the smooth operation of the private sector.  
He said in addition to providing employment opportunities to our people, the facility will provide office space; create a conducive working environment; and in turn contribute to better service delivery.
Government, the President said, expects that the private sector will continue investing more in local communities and assist local communities through their corporate social responsibilities programmes.
“It is against this background that I call upon the private sector, particularly the financial sector, to be partners in becoming a driving force behind our strategies for industrialisation and realisation of our goals and objectives that are outlined in our NDP4 and Vision 2030,” Pohamba said.
The President commended FNB Namibia and all other financial institutions for their provision of services to the Small and Medium Enterprises (SMEs).  
He said he hoped that more targeted product offerings will be made available so that the people, especially the young people, who want to do business, can have access to capital.
“Our government has created institutions such as the Development Bank of Namibia and the SME Bank specifically to ensure access to finance by our SME sector.
“However, our economy cannot grow at the expected rate if we are not pulling together as a team. In this light, I urge FNB Namibia to pay special attention to the creation of products focusing on the SMEs sector,” Pohamba said.