WINDHOEK – Namibia's three-year growth prospects will remain dull until drastic measures are taken, said Investment research firm, Simonis Storm Securities (SSS) on Thursday in a Fixed Income and Economics report.
SSS analysts are of the view that the drastic measures to be taken include improving strategic service infrastructure, rapid state-owned enterprise reforms, improving capital allocations, attracting talent and skills, removal of policy uncertainties, crack down on rent-seeking behaviour and a booming commodity price environment.
"We need strong leadership that can tackle corruption and take the economy out of the current prolonged recession," they said.
According to SSS, Namibia's State of Nation Address will be held in March and they expect President Hage Geingob to reinforce accountability which is necessary to close the leakages in state finances.
"In addition, we expect the president to make known the election date, to provide an investment policy certainty statement and the strategy on inefficient and non-revenue generating SOEs," SSS added.