At a recent educational breakfast for journalists, Honourable Finance Minister Calle Schlettwein and FNB Market Research Manager Daniel Kavishe addressed invited guests.
Daniel spoke about the average rate of growth in Namibia, money cycle and property market and remarked, that it seemed as if Namibia has been going through seven-year cycles of ups and downs. He stressed that the cyclical behavior is typical of most economies and that it is crucial to understand the behavior that ensues.
He added that during tough times, consumers and businesses ‘adopted’ so-called slump behaviors, while certain characteristics became evident in society such as erratic price behaviour, high unemployment, structural changes, industrial action, declining output due to waning demand and trade increase. Consumers are known to
Start bargaining during slump times, window shop versus purchasing, go for price and not brand loyalty, often resort to ‘I deserve’ pucrases and make use of credit where possible.
“Businesses during slump times focus on cost management, mergers and acquisitions become more regular, clever pricing is done, while structural declines and mechanisation are looked at more closely.”
Honourable Minister Schlettwein, in his address, thanked the sponsor and organiser for the educational information sharing platform and educated invited guests on four topical matters which included:
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