Professionals remain confident in economy
Results from the latest PPS Namibia Graduate Professional Confidence Index (PCI), which tracks the confidence levels of more than 230 of Namibia’s graduate professionals, shows that confidence levels remain very positive on a number of key issues including the state of education and unemployment in the country.
The survey, conducted on a quarterly basis, tracks confidence levels on a variety of issues such as emigration, crime and healthcare. The overall confidence level among Namibian graduate professionals improved by 0.5 percentage points from 68.7% recorded last quarter to 69.2% this quarter.
According to Adri Vermeulen, Chief Executive of PPS Namibia, the survey provides valuable insight into the mindsets of graduate professionals who are essentially the driving force behind much needed skills and resultant economic growth in Namibia.
“Given the current global economic uncertainty, it is very positive to note that overall confidence levels have remained stable,” he said.
A preliminary review of higher education by Higher Education Management Africa recently reported that Namibia could see unemployment among higher education graduates in all sectors by 2030 if current trends in tertiary education continue.
Despite this, the index revealed that Namibian professionals are more confident that unemployment will improve over the next five years with a confidence level of 55% compared to the score of 52% in the last quarter.
“This is in line with the Vision 2030 project that aims to increase employment by 7% each year. It is encouraging to see that graduate professionals have grown increasingly confident that unemployment in Namibia can improve,” said Vermeulen.
An increase in confidence levels about the standard of education improving over the next five years rose to 63% this quarter from 59% in the previous three months.
Vermeulen said this increased confidence may be partly attributable to the recent announcement by the Minister of Education Dr Abraham Iyambo that Namibian schools will provide free compulsory education at primary school level.
Vermeulen said this initiative is positive as it will assist poorer children by providing the foundation for a quality education that will help them to make something meaningful out of their lives.
Other results from the survey remained unchanged quarter-on-quarter.