THE Black Business Leadership Network of Namibia (BBLNN) has lent its support to the new Equitable Economic Empowerment (Neeeb) Bill.
BBLNN Chairman Eliphas Simon said on Friday that the financial sector needed to be lenient and refrain from repossessing properties from defaulters.
Simon said they also want to contribute to economic plans including National Development Plans 4 and 5, Harambee Prosperity Plans 1 and 2, Vision 2030 and the Namibia Investment Promotion Bill 2020.
“The aim is to uplift previously disadvantaged Namibians who have the vision and ability to engage in business to change oppressive outdated public and private financial policies who are unaware of financial and economic dynamics and trends evolving local and global, as well as oppressive policies,” Simon said.
He said there was a need to mobilize, educate and sensitize black entrepreneurs to play an active and meaningful role in the economy.
“To help fight for the dignity of today’s entrepreneurs, who are sometimes treated with hostility, arrogance, brutality, torment, torture, injustice and humiliation. We must treat unreasonable seizures and repossessions as if we were not Africans who had always been guided by the spirit of ubuntu,” he said.
“We are keen to help create an enabling environment, which will allow the future entrepreneur to do business and contribute massively and positively to the construction of the Namibian economy,” he said.
Meanwhile, association chairwoman Irene Simeon-Kurtz also questioned the reason for the banks repossessing ownership, despite the Bank of Namibia’s plea for caution towards defaulters.
“But banks continue to repossess and auction properties without heed to the Bank of Namibia directive. Various small and medium enterprises, businesses and entrepreneurs are suffering and are now reduced to mere traders,” she said.