The Ministry of Industrialisation and Trade (MIT) is currently finalising an Informal Economy, StartUps and Entrepreneurship National Policy to cover the informal sections of entrepreneurs as well as youthful start-ups and general entrepreneurship.
This was said by the Minister of Trade and Industrialisation Lucia Ipumbu last week further highlighting that this policy is also included in the Harambee Prosperity Plan II as a key outcome of the Governance pillar and is to be accompanied by an attendant Act of Parliament later on, which provides ample space for ensuring the mainstreaming of incentives and business infrastructure for our MSMEs both formal and informal.
“The Policy and attendant Act are meant to ensure an enabling and supportive framework for key recent institutional interventions by the Ministry pertaining StartUp Namibia and Digital Centre, EMPRETEC Namibia as well as a SDG Impact Facility. The draft policy is to be subjected to public and stakeholder consultations during this year,” Ipumbu said.
Speaking on the occasion of the buy local grow Namibia: Informal sector engagements last week, Ipumbu also said the Buy Local, Grow Namibia: Informal sector engagement is truly a signal to the commitment we made as a Ministry through the Namibia Trade Forum to create a platform where we engage with the informal traders in a bid to understand their functioning and devise modalities that will bring them in the mainstream of the economy.
“Earlier this year, the Namibian newspaper reported that the informal sector is currently the biggest investor in the Namibian economy accommodating at least 56% of the country’s workforce. This is remarkable contribution and indicates the potential that lies in a sector that now more than ever needs our attention and assistance especially given the impact of COVID – 19. The solutions are cross – cutting as the sector’s challenges vary from health and safety, procuring, innovation to mention a few. Some solutions lie with the public sector and others with the private sector but together we surely can make a difference,” Ipumbu said.
The Minister went on to acknowledge the efforts of the Namibia Informal Sector Organisation (NISO) that she says, has worked hard over the years to help improve trading conditions for the informal sector.
“I have been duly informed that they have worked on and delivered a code of conduct, which provides operating guidelines for the sector. I am also aware of their work to improve procurements conditions from our big producers as well as continuous research work, which will inform its interventions. Most importantly embracing different solutions such as ecommerce as an enabler for wider trade including leveraging on affordable packages from our network providers such as, MTC and Telecom to expand trading solutions.
“The MIT was also an active participant in the development of a Code of Conduct by NISO and that was launched in November 2021. The development of the Code of Conduct is based on 17 Guiding Principles, which intends to advocate for the formulation of policies, which will enable a conducive environment for operators in the Informal Economy to conduct their businesses successfully,” Ipumbu said.
In conclusion, Ipumbu remarked: “I would therefore also like commend the work of the Namibia Trade Forum in bringing us here today. The NTF is an agency of Ministry of Industrialisation and Trade mandated to create platforms where such issues related to trade (whether formal or informal can be discussed with an aim to coordinate solutions). I have been informed that the NTF has been engaging with NISO for some months now and will continue to do so and help monitor solutions to some of the issues that will be highlighted here today.”