{"id":76079,"date":"2024-08-28T10:14:00","date_gmt":"2024-08-28T10:14:00","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/leverage-smart-tech-nnn-urges-traders"},"modified":"2024-08-28T10:14:00","modified_gmt":"2024-08-28T10:14:00","slug":"leverage-smart-tech-nnn-urges-traders","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/leverage-smart-tech-nnn-urges-traders","title":{"rendered":"Leverage smart tech, NNN urges traders"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Vice President Netumbo Nandi-Ndaitwah has encouraged local businesses and entrepreneurs to use smart technology to their advantage to enhance creativity, increase productivity and increase profitability.<\/p>\n

The VP made these remarks while officially opening the Ongwediva Annual Trade Fair (OATF) last Saturday.<\/p>\n

\u201cThis event, therefore, signifies the ongoing commitment by our government through our Ministry of Industrialisation and Trade to foster the growth and sustainability of enterprises, which are the backbone of our economy,\u201d said Nandi-Ndaitwah.<\/p>\n

She noted that the role of businesses, especially MSMEs, in driving economic growth, creating jobs and alleviating poverty cannot be overstated, as they remain the engines of innovation and drivers of sustainable growth and development.<\/p>\n

\u201cHowever, we also recognise the challenges that SMEs face, particularly in accessing the necessary tools, technology and resources required to thrive in today\u2019s competitive market,\u201d she said.<\/p>\n

Nandi-Ndaitwah, who is also known by the moniker \u2018NNN\u2019 in political circles, then indicated that this is why the Ministry of Industrialisation and Trade has prioritised the support and empowerment of SMEs through different initiatives.<\/p>\n

\u201cAs we endeavour to empower various enterprises in all 14 regions across the country, we are also specifically targeting to strengthen collaborative ties between the various SMEs in an effort to encourage an open dialogue between government institutions and the private sector,\u201d noted Nandi-Ndaitwah. This was key in the quest to achieve the \u2018Growth at Home\u2019 policy, and to enable the SMEs to grow into bigger enterprises.<\/p>\n

The VP said the government is aware of the vital role the business sector plays in the country\u2019s socio-economic development.<\/p>\n

\u201cOur intervention, therefore, finds its roots in our 2016 National SMEs Policy, which outlines specific programmes aimed at addressing identified key constraints to ensure effective success, growth and development of micro, small and medium-scale enterprises (MSMEs) in the country.<\/p>\n

\u201cOne of the identified constraints is low productivity due to a lack of access to appropriate production machinery, technology and inputs,\u201d she said.<\/p>\n

Nandi-Ndaitwah also mentioned that this is mainly due to the high cost of sourcing or acquiring such technology, machinery and inputs, which is often beyond the reach and means of budding MSMEs.<\/p>\n

Speaking at the same event, Oshana governor Elia Irimari said the OATF has grown significantly over the years.<\/p>\n

\u201cIt is a place where traditional values meet modern ideas,\u201d he said, describing the fair as a celebration of their rich culture, and a chance for businesses and innovators to show their products, share ideas and form partnerships which can help the economy grow.<\/p>\n

He pointed out that as they face the challenges of a changing world, it is important to combine innovation with respect for traditions. Finding this balance is key for sustainable development and community growth. The theme for this year\u2019s expo is \u2018Bridging Tradition and Innovation\u2019, which Irimari said shows their dedication to mixing modern advancements with traditional practices without losing their cultural identity.<\/p>\n

He then encouraged everyone participating to take full advantage of the event by connecting with each other, \u201cexploring new opportunities, and letting the fair inspire creativity and teamwork.\u201d<\/p>\n

INNOVATION<\/p>\n

Meanwhile, trade minister Lucia Iipumbu echoed NNN\u2019s sentiments the following day.<\/p>\n

\u201cAs we move forward, it is important for us to make sure we think of new ideas. Innovation should take the centre-stage of what we do,\u201d She said.<\/p>\n

The minister made the remarks at a business symposium on bridging the gap between tradition and innovation on Sunday at the ongoing trade fair.<\/p>\n

Iipumbu said the symposium is part of the ministry\u2019s commitment to exploring how bio-innovation is rooted both in traditional knowledge and cutting-edge science to drive sustainable economic growth.<\/p>\n

She expressed happiness with the turnout of the SMEs, particularly those who have added value to indigenous products and goods.<\/p>\n

\u201cIf we look at where we are coming from, some of these products were regarded as just part of our tradition, and they belonged in our households. Nobody bothered to have them sold at platforms such as these, but we see them being showcased and consumed,\u201d beamed the minister.<\/p>\n

Iipumbu said given the growth in value-added products in the country, it remains crucial for Namibia to continue commercialising its distinctive natural resources.<\/p>\n

The trade ministry, in partnership with its stakeholders, thus remains committed to assisting the business sector through the various support mechanisms and programmes available.<\/p>\n

Last week, the ministry, through its equipment scheme project, handed over equipment to SMEs from the Oshana, Ohangwena, Omusati, Kunene and Oshikoto regions.<\/p>\n

The minister used the opportunity to inform the public that the equipment scheme has been revived, and implored businesses who qualify to apply for assistance.<\/p>\n

She said the OATF continues to provide a platform for businesses to showcase their goods, network, and share information which benefits and subsequently grows their businesses.<\/p>\n

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

Africa-Press – Namibia. Vice President Netumbo Nandi-Ndaitwah has encouraged local businesses and entrepreneurs to use smart technology to their advantage to enhance creativity, increase productivity and increase profitability. The VP made these remarks while officially opening the Ongwediva Annual Trade Fair (OATF) last Saturday. \u201cThis event, therefore, signifies the ongoing commitment by our government through […]<\/p>\n","protected":false},"author":84,"featured_media":76078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-76079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nLeverage smart tech, NNN urges traders - Namibia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/leverage-smart-tech-nnn-urges-traders\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Leverage smart tech, NNN urges traders\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Namibia. Vice President Netumbo Nandi-Ndaitwah has encouraged local businesses and entrepreneurs to use smart technology to their advantage to enhance creativity, increase productivity and increase profitability. 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