• Market Watch

Voting for jobs

• 5 Hours Ago - 2024-11-25 00:00:00

Namibians, of which more than 40% are unemployed according to independent research by Afrobarometer, are heading to the polls on Wednesday, casting their votes for a government they believe will nurture an economy that creates jobs.
In its manifesto, Swapo pledges to allocate N$87.5 billion over five years to generate 256 538 new jobs.
The Independent Patriots for Change (IPC) aims to reduce the youth unemployment rate, currently more than 50% according to Afrobarometer, by half within the next five years, its manifesto states.
The Popular Democratic Movement (PDM) commits to lowering the overall unemployment rate to 11% during the same timeframe. Nudo plans to decrease the unemployment rate by 13%.
The Landless People’s Movement (LPM) seeks to ensure that 80% of jobs in new projects are reserved for young people.
Cirrus Capital last week released an impartial, non-partisan summary of the economic and fiscal policies outlined by selected political parties in Namibia: Swapo, IPC, PDM, LPM, Nudo and the AR (Affirmative Repositioning).
The information in the Cirrus’ report is a straightforward extraction of key statements from each party’s manifesto.

Swapo
Swapo intends to reduce unemployment by investing in mass land servicing and low cost housing, sports infrastructure development, an apprenticeship programme and national fund, as well as education, arts and creative industries. The party furthermore identifies the agriculture and health sectors as employment creators.
Other key employment creation interventions include increasing the quota of the uptake of National Youth Service recruits into the defence force, police and correctional service.
Swapo will also review legislation relating to the registration and admission to different professional bodies to facilitate the employment of youth.
A Swapo government will provide financial support to the tune of N$500 million per year to the National Youth Fund to empower youth to embark on various enterprises.
Through the Youth Internship Tax Incentive Programme and the National Apprenticeship Programme under the National Training Authority (NTA), opportunities for internships across the public and private sectors will be expanded to provide work-integrated learning.

IPC
The IPC aims for 80% of graduates from educational institutions to secure gainful employment within a year of completing their studies and plans to double the number of young entrepreneurs in the same timeframe.
The party is committed to ensuring that by 2028, 90% of Namibian youth are either in education, employment or training.
A key initiative is the National Youth Employment Guarantee Scheme, which will provide at least 100 days of paid work or skills development annually for unemployed youth.
The IPC will also implement tax incentives for companies that hire and train young graduates.
Reforming the Development Bank of Namibia (DBN) will prioritise youth access to funding for project preparation, ventures and entrepreneurship.
Through Agribank, start-up grants and technical support will be offered to young farmers to help them adopt modern, sustainable farming practices. The IPC plans to allocate arable land specifically for youth-led agricultural projects and establish agricultural training institutes in each region, focusing on agri-business and agri-tech skills.
Additionally, the party will launch a national coding boot camp program, training 10 000 youth annually in software development.
“Tech Hubs” will be established in all regions to provide free internet access, co-working spaces and technology resources for young people, along with a “Youth in Tech” grant programme to support young developers and tech entrepreneurs.
The IPC also proposes developing a specific set of objective rules for obtaining fishing rights in Namibian waters, emphasising Namibian employment.

PDM
The PDM has a “One Constituency-One Factory” policy that will drive its employment creation plans.
A PDM government will establish at least one manufacturing or processing industry in each of Namibia's 121 constituencies, serving as growth hubs.
This initiative will be primarily driven by the private sector, with the government facilitating through the enactment of supportive legislation. Tax rebates and incentives will be introduced to enhance the competitiveness of these industries.
The PDM will establish a comprehensive social welfare programme for unemployed individuals aged 21 to 50, with benefits aligned to the annual performance of the economy.
It will amend the Procurement Act of Namibia to mandate that at least 80% of all agricultural goods procured by the state be produced locally.
Other key initiatives include a Youth Venture Capital Fund, allocating a percentage of national revenue each year to assist youth with viable project plans, providing funding, mentoring, and coaching without requiring collateral.
The party pledges to enhance youth-specific affirmative action in government procurement to 25%.

LPM
The LPM proposes legislation to ensure 70% of jobs in public and private sectors be reserved for the youth, and 50% of tenders be awarded to youth SMEs.
The party wants 80% of all mining jobs to be allocated to Namibians, while 40% of all tourism concessions should go to the youth.
The LPM pledges to establish a dedicated youth fund of N$200 million to help young Namibians to enter the tourism industry.
Under an LPM government, 50% of green schemes will be allocated to the youth.

Nudo
Nudo expects its initiatives and projects to generate over 200 000 new job opportunities.
The party will increase the Vocational Education and Training (VET) Levy to 2.5% to bolster youth training and employment programmes.
It will invest dividends from state-owned enterprises (SOEs) in youth empowerment, agricultural mechanisation and other vital sectors.
Nudo proposes establishing business incubation centres in all regions to foster an environment conducive to young people starting small businesses for self-employment. Additionally, the party will create a comprehensive placement and in-service employment programme that allows qualified youth to gain experience and skills in different sectors, thereby enhancing their chances of securing employment.

AR
The AR will offer a one-time, one-year tax holiday to employers who create over 100 new permanent jobs.
For unskilled labour, the AR government will launch a series of public works projects that do not require specialised skills, targeting rural areas and informal settlements.
The party will establish a youth enterprise and innovation fund to support young entrepreneurs, enhance market access and foster innovation.
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