{"id":23152,"date":"2022-06-24T17:38:17","date_gmt":"2022-06-24T17:38:17","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/local-is-lekker-encourage-local-investors"},"modified":"2022-06-24T17:47:49","modified_gmt":"2022-06-24T17:47:49","slug":"local-is-lekker-encourage-local-investors","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/local-is-lekker-encourage-local-investors","title":{"rendered":"Local is lekker \u2026 encourage local investors"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span> <\/b>Economic processes impact the lives and livelihoods of people, who frequently have little or no voice.<\/p>\n

An enriched society is one where locals can prosper.<\/p>\n

Atterbury Property Holdings, owned by the JSE-listed Atterbury Group, is planning to sell the Grove Mall of Namibia to Zimbabwean investors.<\/p>\n

The Zimbabwean investors, mainly pension funds, are working on plans to take over the N$1.8 billion property.<\/p>\n

The mall is the largest commercial property investment ever made in the country; it has benefited from GIPF\u2019s unlisted investments.<\/p>\n

The Grove Mall of Namibia offers a wide range of 126 shops and a creative setting of 55 000m\u00b2.<\/p>\n

It has an annual turnover of about N$890 000 000.<\/p>\n

In my honest opinion, give the youth opportunity through Initial Public Offering (IPO).<\/p>\n

In our rapidly changing world of work, no one knows for certain which jobs will become obsolete or emerge.<\/p>\n

What is clear, though, is the world\u2019s young people are eager to secure livelihoods that will help them create the futures they want.<\/p>\n

If MTC has raised N$2.541 billion from its IPO at a share price of N$8.50 per share, I am convinced we can apply the same methodology to raise capital locally to acquire the Grove Mall to guarantee the future of our youth.<\/p>\n

For argument\u2019s sake, let\u2019s say we are listing the Grove Mall on NSX to raise capital at a subscription price of N$6.50 per share with the intent to raise N$1.80bn to members of the general public.<\/p>\n

With 276 million shares on offer to the public, a minimum of 250 shares need to be applied for the Grove Mall shares; hence, a minimum amount of N$1 625 per application.<\/p>\n

This is also a great chance to gain valuable experience and encourage young people to become entrepreneurs.<\/p>\n

Looking at the large numbers of unemployed graduates, the idea that education opens doors to employment and success does not hold water.<\/p>\n

The number of unemployed youths is high, irrespective of the level of education.<\/p>\n

Many young people have lost hope of finding a job that matches their skillset or in the area, they reside.<\/p>\n

Therefore, the Grove Mall should sell to the local investors.<\/p>\n

A qualified and accredited asset manager must be appointed.<\/p>\n

Furthermore, encouraging local investors will strengthen the economy.<\/p>\n

It will mobilise revenues to ensure there is state and public ownership of great chunks of the economy that is presently being handed over to foreigners.<\/p>\n

It will end the heavy, unstable and perilous dependence on foreign funds, franchises and investments.<\/p>\n

To understand the importance of youth in society, it is crucial to look at the various roles they play.<\/p>\n

We cannot speak of industrialisation if youth are not forming part of the big machine.<\/p>\n

The youth is the heartbeat of a nation.<\/p>\n

In contrast to the old society, where the elders used to make all the important decisions concerning day-to-day life, in modern society, the youth play an active role in this process.<\/p>\n

The youth actively participate and partially drive political, social and economic development.<\/p>\n

The technological advancements have seen the world turn into a local village, in the sense that people can communicate with each other instantly, regardless of the points of the world they are in.<\/p>\n

It is, therefore, true to say that in modern society, the youth represent the change required for a better future, and socioeconomic development is at the centre of these changes.<\/p>\n

Moreover, Namibia should internalise the positive experiences of the best-industrialised countries in the world, and itself become an industrialised nation by 2030.<\/p>\n

Youth Entrepreneurship Policy is a must for Namibia.<\/p>\n

This shows deliberate effort from governments to drive entrepreneurship and assist future job creators at the very outset of their initiatives.<\/p>\n

The DBN and Agribank launched the youth loan initiatives with relaxed conditions to encourage participation and enhanced financial inclusion.<\/p>\n

The contrary is true that the direct executors of violence and insecurity are usually the youth.<\/p>\n

This is usually contributed to a great extent by the high rate of unemployment among the youth.<\/p>\n

This usually gives them a sense of hopelessness, and when approached by the people who want them to do the dirty work for them, the first thought that usually comes to their minds is that this is an opportunity to make money \u2013 the perception that they have nothing to lose.<\/p>\n

Such scenarios lead to a significant number of youths getting involved in illegal businesses, such as drug trafficking and robbery, which most of the time involve violence.<\/p>\n

Some people are also recruited into gang groups, and the result of this is the deterioration of security in Namibia.<\/p>\n

This derails development by first of all hindering effective education as the young ones grow into youthhood, believing that one doesn\u2019t need education to be successful, which is a very misleading notion.<\/p>\n

To that end, with the spirit of Ubuntu within us (Africans), we must help youth to achieve their best for our future.<\/p>\n

Also, let\u2019s offer it to capable local investors first before it\u2019s offered to our Zimbabwean investors.<\/p>\n

If we follow these steps, we shall create a peaceful environment and transition, because the Grove Mall was built with a portion of GIPF\u2019s unlisted investments.<\/p>\n

Youth are hungry for better options; they are rejecting the status quo and demanding a better future.<\/p>\n

Many of them are claiming their right to a decent living, and they are willing to take risks to do so.<\/p>\n

The more young people grow into well-educated adults, with fewer dependents and new opportunities to acquire wealth, savings and purchasing power, the more they will be able to accelerate economic growth and development.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Economic processes impact the lives and livelihoods of people, who frequently have little or no voice. An enriched society is one where locals can prosper. Atterbury Property Holdings, owned by the JSE-listed Atterbury Group, is planning to sell the Grove Mall of Namibia to Zimbabwean investors. The Zimbabwean investors, mainly pension funds, […]<\/p>\n","protected":false},"author":84,"featured_media":23151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,8,16],"tags":[234,236,233],"class_list":["post-23152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nLocal is lekker \u2026 encourage local investors - Namibia<\/title>\n<meta name=\"description\" content=\"Economic processes impact the lives and livelihoods of people, who frequently have little or no voice. 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