Committee on informal economy inaugurated
Namibia has inaugurated a 35-member National Steering Committee to support the informal economy, which employs 58% of the country's workforce. The committee aims to address challenges like financing and infrastructure to improve livelihoods.
Why it matters
Formalizing and supporting the informal sector is a key strategy for economic development and poverty reduction in emerging economies.
Minister of industries, mines and energy Modestus Amutse officially inaugurated the National Steering Committee on the Informal Economy in Windhoek on Friday morning.
The ceremony was witnessed by Windhoek mayor Sakarias Uunona and Bank of Namibia governor, Ebson Uanguta, Jasmine Papa, a social protection specialist representing the International Labour Organisation as well as other top government officials.
Also present were Dynamic Informal Traders Association secretary general Tangeni Shindondola and Namibia Informal Sector Organisation secretary general Veripi Kandenge.
The massive 35-member steering committee will be chaired by Diina Nashidengo, the director of commerce in the ministry of industries, with David Iigonda of the Ministry of Justice and Labour Relations the deputy chairperson. They will be in office for three years.
The minister said the inauguration is historic because the informal economy plays an essential role by providing jobs, income and living essentials to people in both rural and urban areas.
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