Projects to create employment
Unemployment in the different regions is set to be pulled back a notch thanks to approved loans to the value of N$158.8 million by the Development Bank of Namibia (DBN) through their 2013 4th quarter loan approvals.
The approvals are projected to affect 1,928 jobs, of which 424 are expected to be new, 1,095 temporary and 409 retained, through several project loans approved by DBN.
According to Development Bank CEO Martin Inkumbi, the various projects that are to be implemented will have a positive impact on 38% of the youth.
Speaking during a press conference in Windhoek, Inkumbi highlighted the different sectors and businesses that were allocated funds. The top four projects are to be executed by Namibia Exclusive Safaris, Carbo Namibia, Beefcor Meat Suppliers and the Oshakati Town Council.
DBN’s financial assistance was shared amongst the regions with Khomas receiving the highest piece with 38.8% followed by Kavango (11.9%), Erongo (8.4%), Hardap (6.3%) and Otjozondjupa (4.4%). These regions are at the top of the list due to the concentration of business activities in the areas.
Namibia Exclusive Safaris is set to create 120 direct jobs, of which 40 will be for the members of conservancies for the construction of two lodges in the Omatandeka and Sorris Sorris Conservancies through a partnership with the tribal councils. The second project of expanding Carbo Namibia, an existing charcoal processing and manufacturing plant in Grootfontein from 8,000 metric tons to 15,000 metric tons annually, is expected to create up to 150 new jobs and retain 104 jobs.
Beefcor Meat Suppliers, a meat processing plant in Okahandja will have an abattoir constructed to allow the business to export meat to markets such as the Americas, Asia and Europe and this will create about 125 new jobs. 270 new erven, mainly for residential, business and recreational purposes are to be developed by the Oshakati Town Council and in the process at least 150 jobs are expected to be created over a period of 15 months.
Inkumbi later pointed out that the high number of temporary jobs is a reflection of the high number of approvals to contractors in the construction sector during the quarter.
“Temporary jobs are a natural and valued component of job creation during the current phase of economic development, in which Namibia finds itself. In addition to relief for the recipient of the job, and work experience, the inflows into the local economy strengthen local businesses or create opportunity for new enterprises. These in turn create yet more jobs and opportunities.” Inkumbi said.