Concerns over sweeping empowerment Bill

Namibia’s controversial National Equitable Economic Empowerment Bill (NEEEB) of 2015 is inching towards finalisation. The Namibian reports that the Bill, still viewed as a deterent for investors eyeing Namibia, is aimed at empowering previously disadvantaged citizens. ‘NEEEB is aimed at correcting some of the socio-economic disparities resulting from Namibia’s political history. The Bill has been in the works for several years now, and has resulted in investor uncertainty in respect of what it will mean for business,’ said the Namibia Investment Promotion and Development Board’s Margareth Gustavo. Gustavo added that issues raised during consultations with the board have mostly been addressed. ‘Clarity on and finalisation of this Bill is important in providing businesses and investors with certainty on what they can expect of Namibia’s economic empowerment agenda and the potential implications on business,’ she said.