{"id":32843,"date":"2022-11-02T18:12:20","date_gmt":"2022-11-02T18:12:20","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/i-rescued-local-economy-pm-2"},"modified":"2022-11-02T18:12:20","modified_gmt":"2022-11-02T18:12:20","slug":"i-rescued-local-economy-pm-2","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/i-rescued-local-economy-pm-2","title":{"rendered":"I rescued local economy – PM"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Swapo vice president candidate Saara Kuugongelwa-Amadhila says she is proud of her tenure as finance minister from 2003 to 2015, boasting she found the local economy in recession \u2013 but under her watch, Namibia managed a budget surplus.<\/p>\n

Kuugongelwa-Amadhila, then 36 years old, was appointed finance minister by Founding President Sam Nujoma.<\/p>\n

She had previously served as director general of the National Planning Commission in 1995 at the ripe age of 27.<\/p>\n

\u201cI always believe that young people cannot lead development if they are not given responsibilities. The founding president saw potential in this young lady and decided she is going to put her at the barn of the country,\u201d she noted.<\/p>\n

Prime Minister Kuugongelwa-Amadhila was addressing delegates at the Swapo internal campaign last week in the north.<\/p>\n

She is competing against incumbent Netumbo Nandi-Ndaitwah and Pohamba Shifeta to become the party\u2019s next vice president and likely presidential candidate in the 2024 election.<\/p>\n

\u201cBefore I became minister of finance, the economy was in recession; the prices of diamonds and gold were down, and the debt of the country was up,\u201d she stated.<\/p>\n

She added that when she became a minister, she was asked to cut the budget by 20%.<\/p>\n

\u201cThey requested me to again cut the budget by 20%, and I refused. I cannot be the budget cutter of the ministry of finance. We had to look for another solution \u2013 and before we know it, Namibia had a surplus for three consecutive years \u2013 and these are the only surpluses we have ever had,\u201d she told delegates.<\/p>\n

\u201cWe have never had a surplus even when the economy was stable. It was only during my tenure because young people are very bold. I am not saying I am a superwoman or that I am better than other people but I am saying young people are daring and not afraid. I was not intimidated that the task and team we had was of young people.\u201d<\/p>\n

According to her, it was because of that surplus that they were able to increase the expenditures on programmes such as infrastructure, electricity, schools and agriculture. She said during her tenure, the country employed serious fiscal discipline.<\/p>\n

\u201cI remember when I suggested a tax audit and someone said I could only collect N$100 million, and it was a waste of time. I didn\u2019t believe that. When that project was complete, the revenue had increased from 26% to 36% of GDP. No other country in sub-Sahara Africa has achieved that at that time,\u201d she boldly stated.<\/p>\n

Furthermore, Kuugongelwa-Amadhila added that before her, funding for students at institutions of higher learning was N$200 million per year \u2013 and by the time she left the ministry, it was N$1.3 billion per year.<\/p>\n

\u201cThe land allocation used to be at N$20 million; by the time I left the ministry, it was N$350 million per year. The old age pension was something like N$300 \u2013 and by the time I left, it was N$600, and it doubled to N$1 200 the following year,\u201d she added.<\/p>\n

As if that is not enough, Kuugongelwa-Amadhila also added she rescued Kalahari Holdings, which was on the verge of collapse.<\/p>\n

The company is wholly owned by Swapo.<\/p>\n

\u201cFounding president called me to his office and said Kalahari Holdings properties are about to be auctioned because it is bankrupt, and we have two weeks to rescue that company; I went to some comrades and some memes, and mobilised the funds to pay off the debts of Kalahari Holdings,\u201d she said.<\/p>\n

She reminisced about paying off the debts using Zebra Holdings, another Swapo-owned company, as the main account of Kalahari Holdings was in the red.<\/p>\n

\u201cToday, Kalahari Holdings has built party offices in the regions, yellow buses and party headquarters \u2013 and it is going to pay the branch coordinators and other staff in the districts and sections leaders,\u201d she added.<\/p>\n

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

Africa-Press – Namibia. Swapo vice president candidate Saara Kuugongelwa-Amadhila says she is proud of her tenure as finance minister from 2003 to 2015, boasting she found the local economy in recession \u2013 but under her watch, Namibia managed a budget surplus. Kuugongelwa-Amadhila, then 36 years old, was appointed finance minister by Founding President Sam Nujoma. 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Swapo vice president candidate Saara Kuugongelwa-Amadhila says she is proud of her tenure as finance minister from 2003 to 2015, boasting she found the local economy in recession \u2013 but under her watch, Namibia managed a budget surplus. Kuugongelwa-Amadhila, then 36 years old, was appointed finance minister by Founding President Sam Nujoma. 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