The limited manufacturing activities in Namibia
by local companies place undue strain on the country’s economy, a leading
business person has said.
Hilton Loring, Chief Executive Officer of Elso Holdings in a media
statement on Wednesday said using the nation’s resources, employing and
selling to Namibians would give the local economy a tremendous shot in the
He said manufacturing locally stimulates job growth and employment and
keeps precious resources, investments and money within the country’s
borders, which he said is essential for an economy to grow and develop.
According to Loring, products manufactured locally should also be availed
to local consumers and businesses.
“Engaging and pursuing local contracts becomes essential and it gives a
platform for the products to be sold locally and contribute the Namibian
economy,” he stated.
He said the current economic headwinds facing the country could be
cushioned if the manufacturing sector was fully developed and explored.