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Chapman commends BRICS resilience in navigating challenges

Chapman commends BRICS resilience in navigating challenges

Bank Windhoek’s Executive Officer of Retail Banking Services and Specialist Finance, James Chapman, commended the resilience exhibited by BRICS alliance nations in navigating challenges and thriving in an ever-evolving global landscape.

Similarly, he noted Bank Windhoek’s steadfastness in enduring various economic upheavals over its 40-year history as the sole 100% Namibian-owned bank.

Chapman at a stakeholder engagement breakfast for key customers held in Windhoek last week acknowledged the convergence of multiple crises in recent years – stagflation, liquidity constraints, severe droughts, and a global pandemic, and asserted that the bank emerged from each stronger. He emphasized that the bedrock of the bank’s resilience lies in the trust and loyalty of its customers, a quality highly cherished by the institution.

The event’s focus was on BRICS, an acronym representing Brazil, Russia, India, China, and South Africa – a topic of paramount importance in today’s global economic landscape. Chapman underscored that at the core of the BRICS partnership lies resilience and collaboration.

He stressed the pivotal role of building relationships in the functioning of the bank. Through engagements like these, Bank Windhoek aspires to embody the role of “Connectors of Positive Change,” collaborating and partnering with customers to comprehend and enhance the value of their businesses.

Chapman reaffirmed the bank’s dedication to this role, asserting ongoing investments in their people, organization, and the communities they serve, recognizing their integral role in Namibia’s economic fabric.

The event, hosted by Bank Windhoek, featured Salomo Hei, an experienced Managing Director of the research entity “High Economic Intelligence,” who has a notable background in economics and investments.

He currently serves as the Chairperson of the Namibia Statistics Agency. Drawing on his wealth of expertise, Hei delved deeper into the potential implications of BRICS countries for businesses in Namibia. He provided an insightful overview of BRICS history, drawing comparisons with the G7.

Hei also highlighted the abundant commodities Namibia can offer to BRICS nations, given its extensive resource base. He clarified that the term “BRIC” was coined by Goldman Sachs economist Jim O’Neill in 2001, initially excluding South Africa. O’Neill believed that by 2050, the four BRIC economies would dominate the global economic landscape. South Africa joined the alliance in 2010.

Hei recommended strategic measures to promote trade facilitation, streamline customs procedures, and ensure product quality and safety to fully realize the benefits of BRICS collaboration. He emphasized that it’s not about choosing between G7 and BRICS but optimizing the available opportunities.

Jacquiline Pack, the Executive Officer of Marketing and Corporate Communication Services at Bank Windhoek, extended heartfelt gratitude to the customers for being the cornerstone of the bank’s triumphs. She expressed a collective commitment to continued prosperity, innovation, and the creation of a future that is not only financially fruitful but also sustainable and inclusive for all.


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